Shipowner John Fredriksen Wihtdraws His Whole Fleet From Norway

The richest man in Norway, and owner of major shipping companies like Golden Ocean and SeaDrill, John Fredriksen, is taking every single ship he owns out of the Norwegian Shipping Registry (NIS) and moving them to the Marshall Islands. Just a year ago Fredriksen said he would bring all of his fleet home.

“We were very happy when Fredriksen said he would flag the ships home. It is therefore correspondingly disappointing that he changes his mind.”

Trond Giske

John Fredriksen

Statements from shipping records show that five ships were flagged out from Norway to the Marshall Islands this summer. That means that all ships that have sailed under the Norwegian flag now are moved out of the country, according to the Norwegian TV channel TV2.

Mr. Fredriksen confirms the fact, but will not comment on why he is now flagging the entire fleet out of the country.

Trond Giske

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Norwegian Industry Minister Trond Giske has worked hard to persuade John Fredriksen to leave several of his ships sailing under the Norwegian flag.

Mr. Giske says the NIS shipping registry is attractive for both Fredriksen and other shipowners.

The Industry Minister has not received a response from Fredriksen on why he’s flagging out his ships.

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A Surprising Change of Course

In July last year the ship owner and investor John Fredriksen said he was considering moving 1930 to 1940 of his ships back to Norway, 31 years after he left, primarily to avoid the Norwegian tax authorities.

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“We already have some Norwegian-registered ship and look positively on participate in the initiatives that strengthen the Norwegian shipping cluster. What it eventually turns into, it is too early to say,” Fredriksen said in November last year.

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And in January this year, the influential businessman decided to flag home four of his ships.

But now he have surprisingly changed his mind, TY2.no reports.

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Golden Ocean Group (GOGL)

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SeaDrill (SDRL)

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