Næss started as a member of the board of the new company and initiated a huge expansion program, ordering a number of ship with a total costing $163 million. As Zapata had its offices in Houston it became tedious for Næss to attend board meetings; he withdrew and his son Michael was elected in his place. By 1972 Næss grew more and more concerned over the huge volume of new buildings, he feared a collapse of the market and was thus positive when approached by "P&O" and Hilmar Reksten who offered to buy his fleet. Næss had very mixed feelings as he had been in shipping for more than 40 years, however, with his experience and background as an economist he anticipated a downturn in the market. He did not have to wait long to see his decision pay off.