Search results for: Frontline

333 results

A list of search results

  • 26 July 2018
    Business & Finance

    Frontline hires Morgan Stanley to sell up to USD 100 million of its common shares.

  • 28 June 2018
    Business & Finance, Rules & Regulation

    Frontline to acquire a 20 percent ownership interest in Feen Marine Scrubbers.

  • 31 May 2018
    Business & Finance

    Frontline remains in the red in the first quarter of 2018 amid weak rates.

  • 3 April 2018
    Business & Finance

    Smooth launching of Frontline’s Aframax pair at New Times Shipbuilding.

  • 12 March 2018
    Business & Finance

    Frontline has reportedly ordered two 81,500 dwt bulk carriers at Chinese Shanhaiguan Shipbuilding Industry.

  • 28 February 2018
    Business & Finance

    2018 is not likely to be the turning point for the crude oil tanker market amid continued VLCC deliveries.

  • 28 February 2018
    Business & Finance

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

  • 19 December 2017
    Business & Finance

    Frontline CEO expects a pick-up in scrapping of older tankers to lift rates in the second half of 2018.

  • 22 November 2017
    Business & Finance

    John Fredriksen-controlled tanker owner and operator Frontline ended the third quarter of 2017 in loss due to weak average spot daily time charter equivalent (TCE) earnings. During the period ended September 30, the company reported a net loss of USD 24.1 million, compared to a net income of USD 5.5 million seen in the same […]

  • 30 August 2017
    Business & Finance

    Tanker owner and operator Frontline signed two senior secured term loan facilities of USD 110.5 million each to partially finance four recent vessel deals. Under the deals, up to USD 110.5 million would be provided by ING Bank and the other USD 110.5 million would be provided by Credit Suisse, for the financing of the company’s […]

  • 26 June 2017
    Business & Finance

    Norwegian tanker shipping giant Frontline has shelved its plans to purchase its US-based rival Gener8 Maritime, the Wall Street Journal reported. Fredriksen said earlier that he was looking into the purchase of a ship operator that ran at least 20 VLCCs, with Gener8 Maritime being singled out as the likely candidate. A vessel combination deal between Frontline and Gener8 […]

  • 19 June 2017
    Business & Finance

    Legal action filed by John Fredriksen-controlled Frontline in the High Court of the Republic of the Marshall Islands, which challenged DHT’s transaction with BW Group and DHT’s Rights Plan, has been dismissed, with prejudice. Frontline is now precluded from bringing similar claims against crude oil tanker owner DHT, its directors and BW Group in any other […]

  • 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 […]

  • 31 May 2017
    Business & Finance

    After several unsuccessful attempts aimed at acquiring DHT Holdings and a couple of lawsuits against the company, Norwegian tanker owner and operator Frontline is said to be dropping its acquisition plans and eyeing another company. In an interview with the Wall Street Journal, Frontline’s CEO John Fredriksen said that “the company would likely drop” the monthslong […]

  • 30 May 2017
    Business & Finance

    John Fredriksen-controlled tanker owner and operator Frontline ended the first quarter of 2017 with a net income of USD 27 million, significantly lower from the net income of USD 78.9 million seen a year earlier. The company’s total operating revenues for the quarter reached USD 177.1 million, decreasing from USD 227.1 million reported in the same period […]

  • 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 […]

  • 8 May 2017
    Business & Finance

    Crude oil tanker owner DHT Holdings has once again said no to Frontline, as its Board of Directors unanimously rejected the proposal, submitted on April 25, to acquire all of the outstanding shares of common stock of DHT at a ratio of 0.8 Frontline shares for each DHT share. In a letter to Robert Hvide Macleod, Principal […]

  • 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 […]

  • 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 […]

  • 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 […]

  • 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 […]

  • 28 February 2017
    Business & Finance

    John Fredriksen-controlled tanker owner and operator Frontline has reached an agreement to buy two very large crude carrier (VLCC) resales from South Korean Daewoo Shipbuilding & Marine Engineering (DSME). Purchased at a price of USD 77.5 million a piece, the new 300,000 dwt VLCCs are scheduled for delivery in September and October 2017. The company […]

  • 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 […]

  • 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 […]

  • 30 January 2017
    Business & Finance

    John Fredriksen-controlled tanker owner and operator Frontline has started initial discussion with crude oil tanker firm DHT Holdings for a potential business combination. Frontline proposed the acquisition of all of the company’s outstanding shares of common stock in a stock-for-stock transaction at a ratio of 0.725 Frontline shares for each DHT share. The proposal is subject to usual and customary […]