Frontline Sells Share in Gen. Maritime, Orders Ships

Tuesday, August 15, 2006
Frontline has sold its shares in General Maritime Corporation, and has ordered four new Suezmax tankers for an undisclosed sum, Reuters reported The 3.86m shares were sold at $40 per share to World Wide Shipping, and Frontline will record a gain of about $9.7 million in the third quarter from the sale, it said in a statement.

It said the proceeds from the sale would be allocated to repayment of debt, equity financing of the Rongsheng investments as well as increased dividend capacity. Frontline also said it had declared four newbuilding Suezmaxes orders from Jiangsu Rongsheng Heavy Industries Group Co. Ltd. in China. source: Reuters

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

IBIA Celebrates 23th Annual Dinner

Association appoints new board members and sets priorities for the future   The International Bunker Industry Association (IBIA) has appointed three new members

OSV Delivered to MC2 in Dubai

Marine Core & Charter LLC (MC2) headquartered in Dubai has taken delivery of the new build PETRA-1, the first of two, 45-meter Fast Offshore Support Vessels in

Baltic Index Pauses at Record Low

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, ended flat on Thursday after declining for 12 straight sessions

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0783 sec (13 req/sec)