Search results for: Frontline

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A list of search results

  • 25 July 2006

    The world’s biggest independent oil tanker group Frontline has ordered two new Suezmax tankers from China’s Jiangsu Rongsheng Heavy Industries Group Co. Ltd. for an undisclosed sum, Frontline said on Monday. “The vessels will be delivered in November 2008 and February 2009,” Frontline Ltd. said in a statement.

  • 17 September 2014
    Business & Finance

    Knightsbridge Tankers Limited has completed the first stage of its previously announced shares for vessels transaction with Frontline 2012 Ltd. Knightsbridge has issued 31 million shares in exchange for 11 Cape size bulk carrier newbuildings, and two Newcastlemax newbuildings. Back in April 2014, Knightsbridge Tankers and Frontline 2012 agreed to combine Frontline 2012’s remaining fleet of 25 vessels […]

  • 1 March 2017
    Business & Finance

    Crude oil tanker operator DHT Holdings has secured bank financing for the two 318,000 dwt VLCCs newbuildings ordered at South Korean shipbuilder Hyundai Heavy Industries (HHI).   The VLCCs were ordered in January 2017 and are to be delivered in July and September 2018, respectively. As disclosed, the financing will cover about 50% of the contract price with […]

  • 20 April 2017
    Business & Finance

    Marshall Islands-incorporated tanker owner and operator DHT Holdings said that its move to acquire very large crude carriers (VLCC) from LPG owner BW Group has nothing to do with Frontline’s failed attempts to acquire DHT. As disclosed, the fleet acquisition move is not targeted at “depriving Frontline of the ability to press its pending offer […]

  • 13 August 2019
    Business & Finance

    The JV is expected to start operations in the third quarter of 2019.

  • 9 December 2016
    Business & Finance

    Tanker owner and operator Frontline has completed its share offering raising gross proceeds of USD 100 million to fund growth opportunities through vessel acquisitions. The funds, raised through the issuance of over 13.4 million of new shares, will also be used for general corporate purposes. The new shares were priced at USD 7.45 per share, […]

  • 8 February 2013
    Business & Finance

      Frontline Ltd. has agreed with Ship Finance International Limited to terminate the long term charter party for the Suezmax tanker Front Pride and Ship Finance has simultaneously sold the vessel. The charter party is expected to terminate in late February 2013. Frontline will make a compensation payment to Ship Finance of approximately $2.1 million […]

  • 21 August 2012

    Frontline 2012 Ltd.  announced that it has concluded newbuilding contracts for two 83,000 CBM Gas Carriers (“VLGCs”) at a total contractual value of USD 127 million. The deliveries of the vessels are expected to take place in 2014. Furthermore, the Company has secured four fixed price optional contracts at a total contractual value of USD […]

  • 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 […]

  • 22 June 2016
    Business & Finance

    Chinese COSCO (Zhoushan) Shipyard, a subsidiary of COSCO Shipyard Group, has delivered a 111,000 dwt oil tanker to John Fredriksen-controlled oil tanker shipping company Frontline Ltd. Featuring a length of 252 meters and a width of 44 meters, the new Marshall Islands-flagged vessel was named Front Jaguar. The LR2 tanker joins the company’s fleet a week after Frontline decided to exit […]

  • 14 October 2016
    Business & Finance

    Tanker owner and operator Frontline has entered into an agreement to terminate contracts for four Very Large Crude Carrier (VLCC) newbuildings previously ordered from South Korea’s shipbuilder STX Offshore & Shipbuilding. The contracted price of these vessels, which were due for delivery in 2017, was USD 364.3 million, of which the company has made instalment payments of USD 45.5 million. […]

  • 23 August 2013
    Business & Finance

    Stolt-Nielsen Limited announced yesterday that a heads of agreement (HOA) has been entered into with Frontline 2012 Ltd. whereby Frontline 2012 will become a shareholder in Avance Gas Holding Ltd (AGHL) along with Stolt-Nielsen Gas Ltd. and Sungas Holdings Ltd. Following the expected transaction, the three owners will exercise equal control over AGHL. The transaction […]

  • 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 March 2020
    Business & Finance

    Frontline has closed the acquisition of 10 Suezmax tankers from Trafigura Maritime Logistics.

  • 13 June 2016
    Business & Finance

    John Fredriksen-controlled oil tanker shipping company Frontline Ltd. has decided to exit the medium range tanker segment as it confirmed the sale of its six medium range tankers. The vessels were sold for a price of USD 172.5 million to New York-listed Ardmore Shipping Corporation (Ardmore). Scheduled to be delivered to their new owner during September and October 2016, the […]

  • 25 January 2012

    Inmarsat , the leading provider of global mobile satellite communication services, today announced that Frontline, the world leader in the international seaborne transportation of crude oil, has committed to Inmarsat XpressLink for more than 100 vessels from its existing fleet and its planned new builds. “We evaluated the providers and made a purely commercial decision […]

  • 24 July 2006

    Frontline Ltd. has entered into a contract with Jiangsu Rongsheng Heavy Industries Group Co. Ltd. in China for delivery of two 153.000 dwt Suezmax newbuildings. The vessels will be delivered in November 2008 and February 2009. Frontline has also secured options for further 2 + 2 similar Suezmax newbuildings. The contract price for the newbuildings […]

  • 31 May 2016
    Business & Finance

    Tanker owner and operator Frontline has secured a commitment for a senior secured term loan facility worth up to USD 328.4 million with China Exim Bank that will be used to finance eight newbuildings. Specifically, the facility will be secured by four Suezmax tankers and four LR2 tankers, it matures in 2029 and has an amortization profile of 18 years. […]

  • 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 […]

  • 11 September 2013
    Business & Finance

    Frontline 2012 Ltd. announced that the Company has taken delivery of the first of six fuel efficient MR tanker newbuildings ordered from STX Offshore & Shipbuilding Co. Ltd. in Korea, named Front Arrow. Front Arrow is the first vessel delivered out of 60 currently on order by Frontline 2012 with the last units being delivered […]

  • 2 November 2018
    Business & Finance

    Frontline has ordered scrubbers for a further 12 vessels from Feen Marine Scrubbers (FMSI).

  • 27 August 2015
    Business & Finance

    The strength of the tanker market which has enjoyed pretty high rates may be threatened by the inflow of the new tonnage scheduled for delivery in the following two years. “Given the positive outlook of the tanker market we expect very little scrapping and the orderbook is a concern. As the delivery schedule shows a significant number of ships […]