TOP 30 TANKER COMPANIES TAKER Operator’s

Frontline Management AS, a wholly-ownedsubsidiary, is responsible for the commercialmanagement of Frontline's shipowningsubsidiaries, including chartering andinsurance. Frontline has a strategy of extensiveoutsourcing. For example, shipmanagement,crewing and accounting services areprovided by a number of independent andcompeting shipmanagement include V Ships, both in Norway andthe UK; Wallem Shipmanagement;International TANKER Management andThome s fleet list includes Suezmaxes(29), Obos (8) and VLCCs (44). Theconglomerate also has eight Suezmaxes and10 VLCCs on order. The numbers includethose owned by subsidiaries and others thatare long term chartered. Although operating less tankers than Teekayin number, the VLCC total pushes Frontlineinto first place in terms of deadweight tonnageunder its control.

which are involved in the tanker sector. II TANKEROperator Annual Review March 2009 TOP 30 TANKER COMPANIES FRONTLINE (18.9 mill dwt, plus 4.4 mill dwt newbuildings) TAKER Operator’s Top 30 owners and operators This list has been compiled in terms of deadweight tonnage and includes companies

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