Chief executive Lars Barstad says Frontline can pounce for more vessels at any time, but is in no rush to complete deals.
Last year, the John Fredriksen-controlled company spent $566.8m on six VLCC resales believed to have been ordered by Greek shipowner Evangelos Pistiolis' Central Shipping, as well as $180m on two 2019-built VLCCs from Okeanis Eco Tankers.
Asked on an Arctic Securities webinar whether the company could acquire more ships this year, Barstad replied: "This is like a broken record for Frontline — we are always looking at opportunities."
He said the Oslo-listed owner has the ability to move on new tonnage "almost regardless of where we are in the cycle".
"We have to admit we were fairly aggressive on investment last year, increasing our fleet 30% in deadweight terms almost overnight," he said, adding: "We are looking for more."
However, the company will move only when the time is right.
Barstad explained that the management team always takes into account the fact that when a market recovery is a little delayed, owners become "tender" over where they set price levels.
"Sometimes we will pull back and wait," he said.
But he would not be drawn on any imminent plans: "Where we are now I can't really tell you."
The newbuilding programme is fully financed after loans of $260m were agreed in October and November.
The company had already financed the first two Central Shipping resales as part of a $247m loan package last August that also funded the Okeanis deal.
Frontline later added that Dutch lenders ABN Amro and ING, Germany's KfW IPEX-Bank and France's Credit Agricole are financing the remaining four ships for $65m each over five years.
