Search results for: Frontline

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  • 22 August 2007

    * Frontline reports net income of $189.1 million and earnings per share of $2.53 for the second quarter of 2007. * Frontline reports half year net income of $347.9 million and earning per share of $4.65. * Frontline reports a total gain on sale of assets of $66.1 million consisting of $31.2 million relating to […]

  • 7 June 2007

    Frontline Ltd. (the ‘Company’ or ‘Frontline’) has on June 6, 2007 sold its entire holding of 25,500,000 shares in Sea Production Ltd. (‘Sea Production’) for a net price of NOK 15.75 per share, equal to approximately $67 million. The sale of the shares is in line with Frontlines strategy to remain a pure crude oil […]

  • 20 March 2007

    As previously reported in July 2006, Frontline Ltd. (‘Frontline’ or the ‘Company’) has been granted 2 + 2 options for 156,000 dwt Suezmax newbuilding contracts at Jiangsu Rongsheng Heavy Industries Group Co. Ltd. in China. The Company has now exercised two of these options. The vessels will be delivered in April and June 2010.

  • 22 January 2007

    The DNV classed, ‘Front Sunda’ is currently being converted from single hull suezmax tanker to heavylift vessel at Cosco Nantong Shipyard. It’s the first project for Frontline contracted to Chinese shipyard and is also the first heavylift conversion work for the yard.

  • 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.

  • 15 January 2007

    In line with the strategy decided by the Board, Frontline Ltd. (“Frontline” or the “Company”) is currently in the process of establishing a separate entity to develop the Company’s heavy lift activity. Such a company will include up to six single hull Suezmax vessels. Five of these vessels are on long term leases from Ship […]

  • 7 January 2007

    Ship Finance International Limited (NYSE:SFL) (“Ship Finance” or the “Company”), today announced that it has agreed to sell the single hull suezmax tanker Front Transporter to an unrelated third party at a gross sales price of $38 million. Frontline will receive a compensation payment of approximately $15.4 million for the termination of the charter, and […]

  • 13 December 2006

    Frontline Ltd. (“Frontline” or the “Company”) has declared an option with COSCO Shipyard, China to convert Front Target to a heavylift vessel. The conversion will begin in May 2007, and completion is expected in August 2007. By fitting a new mid-ship section and upgrading all major components of the vessel, we foresee that the vessel […]

  • 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 […]