Search results for: John Fredriksen

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  • 27 February 2012
    Project & Tenders, Vessels

    Golar LNG Limited said that the company has entered into firm contracts with Samsung Heavy Industries for a further two LNG carriers. The two additional vessels, each with a capacity of 160,000cbm have a combined total cost of slightly above $400 million. The first of the carriers is scheduled for delivery in the second quarter […]

  • 28 February 2019

    Billionaire John Fredriksen’s offshore drilling company Northern Drilling feels offshore drilling market is on a recovery path, and the company is optimistic about future as clients prefer modern high-spec rigs, of which the company has four, with an option for one more.

  • 1 February 2013

    Seadrill has entered into an agreement for the construction of two high specification jack-up drilling rigs with Dalian Shipbuilding Industry Offshore Inc. (DSIC Offshore) in China. The new units are scheduled for delivery during the first and second quarter 2015, and the estimated total project price is approximately US$230 million (including project management, capitalized interest, […]

  • 29 February 2016
    Business & Finance

    John Fredriksen-controlled oil tanker shipping company Frontline Ltd. has reported an increased net income of USD 124.3 million in 2015, compared to USD 86.2 million reached in 2014. Robert Hvide Macleod, Chief Executive Officer of Frontline Management AS, said that Frontline’s fourth quarter of 2015 was strong with net income attributable to the company reaching USD 58.6 million. […]

  • 30 May 2012

    Seadrill, one of the world’s largest offshore drilling contractors, has sold 300 million shares in SapuraKencana Petroleum BHD (“SapuraKencana”). The proceeds from the transaction will be approximately US$200 million. SapuraKencana is the new entity formed by a merger of Kencana Petroleum Bhd and SapuraCrest Petroleum Berhad in Malaysia. According to the Borneo Post, the $3.8 […]

  • 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.

  • 22 May 2019
    Business & Finance

    GOGL signed two new credit facilities to refinance obligations under previous loans which financed 14 vessels.

  • 11 February 2013
    Business & Finance

    Seadrill and SapuraKencana have today entered into a conditional sale and purchase agreement in relation to the proposed transaction. SapuraKencana will acquire all the tender rigs in Seadrill’s fleet except for the West Vencedor, T15, and T16. These three rigs are either owned or planned to be owned by Seadrill Partners LLC. Seadrill will in […]

  • 6 July 2020
    Business & Finance, Business developments & projects

    Flex LNG, the shipping company controlled by billionaire John Fredriksen, has secured new charter deals as it prepares to take the delivery of another newbuild vessel. South Korea’s Daewoo Shipbuilding & Marine Engineering will deliver the 173,400-cbm Flex Artemis in August. Following delivery, the vessel will go on a long-term charter to Clearlake Shipping, a […]

  • 26 July 2013
    Business & Finance

    Golar LNG Limited announced today that it has executed a USD $1.125 billion financing agreement to fund the first 8 of its 13 newbuild vessels and FSRUs. The facility is divided into three tranches: A term loan of USD $450 million funded by a consortium of lenders and guaranteed by a 95% Korea Trade Insurance […]

  • 26 July 2013
    Project & Tenders, Vessels

    Golar LNG Limited announced that it has executed a USD $1.125 billion financing agreement to fund the first 8 of its 13 newbuild vessels and FSRUs. The facility is divided into three tranches: A term loan of USD $450 million funded by a consortium of lenders and guaranteed by a 95% Korea Trade Insurance Corporation (K-Sure) […]

  • 17 December 2015
    Business & Finance

     John Fredriksen-controlled oil tanker shipping company Frontline Ltd. today announced that its subsidiaries have signed a new USD 500.1 million senior secured term loan facility that will be used for refinancing existing loans. The facility has been secured with a number of banks, those being DNB Bank ASA, Nordea Bank Norge ASA, ABN AMRO Bank NV, […]

  • 23 August 2019
    Business & Finance

    The company signed a deal to purchase ten 2019-built tankers, with options for four more units.

  • 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 […]

  • 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 […]

  • 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 […]

  • 26 July 2013

    Golar LNG Limited (Golar) has executed a USD $1.125 billion financing agreement (the Facility) to fund the first 8 of its 13 newbuild vessels and FSRUs. The facility is divided into three tranches: A term loan of USD $450 million funded by a consortium of lenders and guaranteed by a 95% Korea Trade Insurance Corporation […]

  • 11 February 2013

    Seadrill and SapuraKencana have today entered into a conditional sale and purchase agreement in relation to the proposed transaction. Malaysia’s SapuraKencana will acquire all the tender rigs in Seadrill’s fleet except for the West Vencedor, T15, and T16. These three rigs are either owned or planned to be owned by Seadrill Partners LLC. Seadrill will […]

  • 31 January 2017
    Business & Finance

    Crude oil tanker company DHT Holdings placed an order for two very large crude carriers (VLCCs) with Korean shipbuilder Hyundai Heavy Industries earlier in January. Featuring 319,000 dwt, the new VLCCs are expected to join the company’s fleet in July and September 2018. DHT said that the newbuilding contracts will be financed with cash at hand and […]

  • 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.

  • 11 October 2012
    Project & Tenders, Vessels

    Golar LNG Limited said that it has entered into a ninety day Vessel Charter Option Agreement with LNG Partners, to prospectively provide two of its newbuild LNG carriers under long term charter agreements beginning Q1 2015. The Option is being provided by Golar to LNG Partners in order to facilitate deliveries of LNG production from […]