Search results for: Frontline

321 results

A list of search results

  • 8 June 2017
    Business & Finance

    The High Court of the Marshall Islands has denied Frontline’s request for a preliminary injunction relating to the vessel acquisition agreement between DHT Holdings and BW Group Limited. On June 7, 2017, the court rejected Frontline’s arguments and issued an order denying the company’s motion for a preliminary injunction, according to the information provided by […]

  • 27 April 2017
    Business & Finance

    John Fredriksen-controlled tanker owner and operator Frontline has filed a complaint in the Marshall Islands “to immediately enjoin portions of the unfair transaction documents” into which DHT Holdings has entered that would permit BW Group to establish 45% ownership of DHT. Namely, the company previously demanded that the Board of DHT halts all efforts to […]

  • 6 December 2011

    The restructuring of Frontline has been approved by the Board of the Company and will in the next few days be put forward to our creditors and counterparties for approval. The proposed solution has been made possible through a massive commitment from Frontline’s major shareholder; Hemen Holding Ltd. The major part of the restructuring consists […]

  • 2 July 2015
    Business & Finance

    Oil tanker shipping company Frontline Ltd. and Frontline 2012 Ltd. have entered into an agreement and plan of merger, pursuant to which Frontline will remain as the surviving legal entity and Frontline 2012 as a wholly-owned subsidiary. Commenting on the transaction, Chairman of Frontline Ltd. and Frontline 2012 Ltd., John Fredriksen said: “By merging Frontline […]

  • 18 September 2012
    Business & Finance

      Nordic American Tankers Ltd today announced that it will be acquiring the remaining interest in Orion Tanker Pool (“Orion”). NAT and Frontline Ltd. established Orion in the autumn of 2011. Since then, Orion has managed the chartering operations of the 20 NAT vessels and the nine Frontline suezmax vessels. Orion has arranged charters to […]

  • 2 July 2015
    Business & Finance

    Oil tanker shipping company Frontline Ltd. and Frontline 2012 Ltd. have entered into an agreement and plan of merger, pursuant to which Frontline will remain as the surviving legal entity and Frontline 2012 as a wholly-owned subsidiary. Commenting on the transaction, Chairman of Frontline Ltd. and Frontline 2012 Ltd., John Fredriksen said: “By merging Frontline […]

  • 26 September 2006

    Frontline Ltd. (“Frontline” or the “Company”) has agreed to sell its VLCC Front Beijing, which was delivered in 2006, for gross sale proceeds of $141.5 million. Delivery to the buyers is expected to take place in November 2006. This transaction will give a positive result of approximately USD 59 million, and will generate approximately USD […]

  • 18 January 2007

    Ship Finance International Limited (NYSE:SFL) (“Ship Finance” or the “Company”), today announced that it is has agreed to sell five vessels to Frontline Ltd (“Frontline” or the “Buyer”) in connection with Frontline’s proposed spin-off of Sealift Ltd., a dedicated heavy-lift company.

  • 28 April 2017
    Business & Finance

    The Marshall Islands Court has rejected Frontline’s request for a temporary restraining order regarding matters relating to DHT’s acquisition of BW Group’s VLCC fleet, the court documents show. “The High Court issued its ruling denying Frontline’s request, which Frontline filed on April 27, 2017, after hearing arguments by counsel for Frontline, DHT and BW Group,” DHT […]

  • 9 February 2017
    Business & Finance

    After the Board of Directors of crude oil tanker firm DHT Holdings rejected Frontline’s proposal earlier in February, John Fredriksen-controlled tanker owner and operator said that its offer was very attractive. “We believe that our offer to DHT shareholders is highly compelling since it provides a meaningful upfront premium, while also giving all shareholders the opportunity […]

  • 2 January 2012
    Business & Finance

    Frontline Ltd. announces that the restructuring of Frontline has been successfully completed. The major part of the restructuring consists of the following elements: Frontline has completed the sale of five VLCC newbuilding contracts, six modern VLCCs including one time charter agreement and four modern Suezmax tankers to Frontline 2012 Ltd. (“Frontline 2012”) at fair market […]

  • 6 February 2017
    Business & Finance

    Bermuda-based crude oil tanker firm DHT Holdings has rejected Frontline’s offer to acquire all of the outstanding shares of common stock in DHT for a per-share consideration of 0.725 Frontline shares. After a comprehensive review, conducted in consultation with its financial and legal advisors, the DHT Board of Directors concluded that the Frontline proposal “is wholly inadequate […]

  • 26 April 2017
    Business & Finance

    Bermuda-based crude oil tanker firm DHT Holdings has received a new “unimproved” proposal from Frontline to acquire all of the outstanding shares of common stock of DHT in a stock-for-stock transaction. The company said that Frontline has again proposed a ratio of 0.8 Frontline shares for each share of DHT, which is the same exchange ratio contained […]

  • 2 January 2012

    The restructuring of Frontline Ltd has been successfully completed. The major part of the restructuring consists of the following elements: Frontline has completed the sale of five VLCC newbuilding contracts, six modern VLCCs including one time charter agreement and four modern Suezmax tankers to Frontline 2012 Ltd. “Frontline 2012” at fair market value of $1,121 […]

  • 16 May 2017
    Business & Finance

    In a written response to the board of DHT Holdings, John Fredriksen’s tanker operator Frontline has again requested that the company’s board engage in “good faith negotiations” on the earlier proposed business combination between the parties. Additionally, Frontline asked the board of Bermuda-based DHT Holdings to redeem the poison pill and permit the tanker operator to take its offer […]

  • 6 December 2011
    Business & Finance

      Frontline Ltd. announces that the restructuring of Frontline has been approved by the Board of the Company and will in the next few days be put forward to their creditors and counterparties for approval. The proposed solution has been made possible through a massive commitment from companys major shareholder; Hemen Holding Ltd. (“Hemen”). The […]

  • 30 November 2015
    Business & Finance

    The merger transactions between Frontline and Frontline 2012 have been approved today at the special general meeting of the shareholders of the respective companies. The merger will see Frontline as the surviving legal entity and Frontline 2012 becoming a wholly-owned subsidiary of Frontline, creating the second biggest tanker shipping company. The closing of the merger is expected to take […]

  • 29 May 2015
    Business & Finance

    Frontline Ltd. has entered into a heads of agreement to reduce long term charters with Ship Finance International Limited in exchange for 27.7 stake in the company. A subsidiary of Frontline has 17 vessels on charter from Ship Finance with an average remaining charter period of 7.7 years. The new agreement will take effect from July […]

  • 20 April 2017
    Business & Finance

    The Supreme Court of the State of New York has rejected Frontline’s attempt to stop DHT’s acquisition of very large crude carrier (VLCCs) fleet from BW Group. On April 18, 2017, Norwegian-based tanker company Frontline filed a complaint against DHT Holdings, BW Group Limited, and DHT Board of Directors alleging that the crude oil tanker […]

  • 27 November 2019
    Business & Finance

    Frontline has secured funds from China’s ICBCL that would enable the company to complete the acquisition of ten Trafigura ships.

  • 28 February 2018
    Business & Finance

    John Fredriksen’s Frontline ended the year in the red amid weak rates and inventory draws.

  • 7 November 2006

    Ship Finance International Limited (NYSE:SFL) (“Ship Finance” or the “Company”), today announced that it has assumed two newbuilding Suezmax tanker contracts from Frontline Limited (“Frontline”), an affiliated company. Frontline’s offer to the Company to assume these contracts was included in Ship Finance’s 2nd Quarter 2006 report. The Suezmax vessels, of 153,000 dwt each, will be […]