John Fredriksen takes aim at Norwegian government’s perceived lack of interest in shipping

With the 60th anniversary of Nor-Shipping now underway, Norway’s most famous shipowner has used the occasion to voice his displeasure at what he sees as Oslo’s lack of interest in shipping. 

Norwegian-born shipping magnate John Fredriksen has sharply criticised Norway’s political climate for maritime business in an interview yesterday with Finansavisen, a leading Norwegian business daily, on the eve of Nor-Shipping.

Fredriksen, now a Cypriot citizen residing in London, declared: “The framework conditions for shipping in Norway have never been weaker than they are now.” His remarks come as frustration grows within Norway’s maritime sector over what many perceive as eroding state support and a dwindling talent pipeline.

Fredriksen’s warning reflects a wider unease among Norwegian shipowners, who have long felt sidelined by government policies seen as unfavourable to the shipping industry. His comments coincide with mounting concerns over a shortage of qualified maritime professionals, a shrinking domestic investor base, and the diminished role of the Oslo Stock Exchange in global shipping finance.

“Shipping is almost wanted away,” Fredriksen stated, suggesting that successive regulatory decisions have alienated a sector traditionally seen as one of Norway’s most important industries.

Fredriksen also shared with Finansavisen his current investment strategy, telling the newspaper: “We are opportunistic and look for good investments—not necessarily control.” He explained his group’s recent surge in equity purchases across multiple maritime and offshore companies including Star Bulk Carriers, International Seaways and offshore driller Valaris. 

Fredriksen’s strategy focused on undervalued shipping equities, with the expectation of strong returns as supply tightens and geopolitical volatility reshapes global trade flows.

“It can be valuable to have gas in the tank when others run out,” he noted, suggesting that liquidity and timing will be critical differentiators in the coming years.

“Shipping has always been cyclical,” he said. “The question is who’s prepared when the cycle turns.”

Fredriksen’s comments add weight to the growing debate at Nor-Shipping 2025, where sustainability, regulatory alignment, and investment uncertainty dominate the agenda. Many Norwegian owners have voiced discontent over the lack of cohesive maritime strategy from the government, particularly as the sector navigates complex decarbonisation goals and rising geopolitical risks.

With his flagship company Frontline trading actively on the Oslo Bourse—albeit amid declining local market influence—Fredriksen’s views are expected to resonate with both institutional investors and policymakers.