Deep Sea Supply announces net profits of NOK 235.2 million

In its first full year of operation John Fredriksen controlled Deep Sea Supply has announced net profits of NOK 235.2 million on total revenues of NOK 472.7 million. In 2007, the fleet of Deep Sea Supply is expected to more than double (from 7 to 16 vessels) as a consequence of the current newbuilding program. John Fredriksen first invested in Deep Sea Supply in March last year by taking a 20 per cent stake through his private investment company, Hemen Holding. the holding has since increased to 34 per cent, which is the level John Fredriksen normally wants to retain.