NEW YORK (TheStreet) --aFrontline was gaining 9.9% to $1.39 Wednesday after announcing a new joint venture with Tankers International. The tanker companies will form the new company, called VLCC Chartering, to create a larger fleet with more flexibility, and more options for cargos owners. VLCC Chartering will have access to the combined fleets of both Frontline and Tankers International. The formation of VLCC Chartering will help reduce voyage related expenses and improve net earnings of Frontline and Tankers International.