Norwegian tanker tycoon mulls Container Company investment

NORWEGIAN oil tanker tycoon John Fredriksen, who controls tanker company Frontline and Golar LNG, is considering entering the container shipping market and has been holding preliminary talks with start-up, The Container Company, according to media reports.

It said that sources within Frontline told the London shipping press that Mr Fredriksen had held preliminary talks with Mr Tholstrup-Moller concerning the new container shipping company and was currently "thinking about it."

The new box shipping line is expected to commence operations in the first quarter of 2010. The report said the start-up, which was established in Copenhagen, "is likely to be a very stripped down offering compared to existing major lines with niche direct services."

The new carrier was set up two months ago by Jakob Tholstrup-Moller of Norwegian shipbrokers Boxton Maritime, and former Maersk and CMA CGM senior executive Franck Kayser.

It was also reported that The Container Company is believed to have been holding talks with a number of other potential investors within the shipping industry, however, their identities are being kept under wraps.

It said that Danish newspaper Borsen compared the new shipping line "to an equivalent of the low-cost carrier model for airlines," a comment that was reported to have been dismissed by Mr Tholstrup-Moller, who was cited as saying that it was "premature to talk about the specifics of what the company has planned."

Source: http://www.schednet.com