Search results for: Frontline

333 results

A list of search results

  • 10 September 2013

    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 […]

  • 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 […]

  • 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 […]

  • 7 February 2013

    Guangzhou Shipyard International, a daughter company of China State Shipbuilding Corporation, has secured a contract to build two more product tankers for Frontline, Sino Ship News reports. The 115,000 dwt vessels are scheduled for delivery in late 2014 and 2015, and it is estimated that each of these vessels will cost $42m. Reportedly, this order […]

  • 7 February 2013

    Guangzhou Shipyard International, a daughter company of China State Shipbuilding Corporation, has secured a contract to build two more product tankers for Frontline, Sino Ship News reports. The 115,000 dwt vessels are scheduled for delivery in late 2014 and 2015, and it is estimated that each of these vessels will cost $42m. Reportedly, this order […]

  • 11 December 2012
    Business & Finance

    Ship Finance International Limited, today announced that it has agreed with a subsidiary of Frontline Ltd. to terminate the charter parties for the two remaining 21-year old combination carriers Front Viewer and Front Guider. Frontline will make a net settlement payment to Ship Finance of approximately $23.5 million as compensation for the early termination of […]

  • 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 […]

  • 21 August 2012

      Frontline 2012 Ltd. 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 254 million. […]

  • 29 May 2012

      Frontline 2012 Ltd has completed a private placement of 56,000,000 new ordinary shares of USD 2.00 par value at a subscription price of USD 3.75, raising USD 210 million in gross proceeds to the Company (the Private Placement). Frontline 2012 has concluded an agreement to acquire a total of 16 firm newbuilding contracts and […]

  • 29 May 2012
    Business & Finance

      Frontline 2012 Ltd. announce that it has completed a private placement of 56,000,000 new ordinary shares of USD 2.00 par value at a subscription price of USD 3.75, raising USD 210 million in gross proceeds to the Company (the “Private Placement”). Frontline 2012 has concluded an agreement to acquire a total of 16 firm […]

  • 5 March 2012
    Business & Finance

      Frontline Ltd. has entered into an agreement to sell its 1993-built double hull Suezmax tanker Front Alfa. Delivery to the buyer is expected to take place in late March 2012 and the vessel will cease to operate in the tanker market. All debt pertaining to the vessel, approximately $13 million, was prepaid in December […]

  • 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 […]

  • 25 January 2012
    Business & Finance

    Inmarsat , the 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 about […]

  • 3 January 2012
    Business & Finance

    Ship Finance International Limited, today announced that it has successfully completed the previously announced amendments to the chartering agreements with Frontline Ltd. Ship Finance has agreed to temporarily reduce the charter rates by $6,500 per day per vessel from 2012 through 2015, and thereafter revert to previous charter rate levels. Frontline has paid a cash […]

  • 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 […]

  • 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 […]

  • 13 December 2011
    Business & Finance

      Frontline Ltd. has entered into an agreement to sell its 1992-built double hull Suezmax tanker Front Beta. Delivery to the buyer is expected to take place in late December 2011 and the vessel will cease to operate in the tanker market. The sale will result in a net cash outflow of approximately $0.2 million, […]

  • 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 […]

  • 6 December 2011
    Business & Finance

    Ship Finance International Limited, today announced that it has agreed, subject to final board and bank financing approvals, to amend the terms of the long-term chartering agreements with Frontline Ltd. This will happen concurrently with a proposed recapitalization of Frontline, where some of their assets will be sold and a significant capital commitment relating to […]

  • 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 […]

  • 15 November 2011
    Business & Finance

    Frontline Ltd. has entered into an agreement to sell its 1993-built double hull Suezmax tanker Front Delta. Delivery to the buyer is expected to take place in late November 2011 and the vessel will cease to operate in the tanker market. The sale will result in a net cash outflow of approximately $1.5 million, after […]

  • 2 November 2011

    Frontline Ltd., the oil tanker operator led by Norway-born billionaire John Fredriksen, said it’s looking to sell three more 1990s-built shi… (Bloomberg) [mappress] Source: Bloomberg, November 2, 2011

  • 31 October 2011
    Business & Finance

      Frontline Ltd. has entered into an agreement to sell its 1996-built Suezmax tanker Front Hunter to VTN Shipping Group, a related party. The vessel will cease to trade in the spot tanker market, and delivery is expected to take place in November 2011. The sale will result in a net cash outflow of approximately […]

  • 20 October 2011
    Business & Finance

      Frontline Ltd. has entered into an agreement to sell its 1994-built Suezmax tanker Front Fighter. Delivery to the new owner is expected to take place in October 2011. The sale will result in a net cash outflow of approximately $3.0 million, after repayment of bank debt, and the Company expects to record a loss […]

  • 17 September 2010

    Frontline which has placed its large VLCC newbuilding program at the Chinese shipyard Zhoushan Jinhaiwan has renegotiated the size of the series. At first Frontline ordered six VLCC newbuildings at Jinhaiwan but is now committed to take delivery of of five 320,000 DWT VLCC newbuildings, with a total contract price of USD 525 million.