Frontline Sells Suezmax Tanker

Monday, May 14, 2001
Frontline has entered into an agreement to sell one of its 2000-built Suezmax tankers, Front Archer. Front Archer was designed and built with future employment as shuttle tanker in mind and is equipped with controllable pitch propeller and thruster tunnel. It is the buyer's intention to use the vessel in shuttle operations. Frontline took delivery of the Front Archer in February 2000 and the vessel has traded in the spot market from delivery. The vessel is expected to be delivered to the buyer in July/August 200. Frontline expects to book a profit of approximately $20 million and to release about $ 32 million in liquidity. Frontline did not fully utilize the technical capacity of Front Archer in regular trading. In view of this and in view of the fact that Frontline's newbuilding program after acquisition of Mosvold already includes two Suezmaxes and six VLCCs the Board has decided to accept the price offered for Front Archer. - (Reuters)
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Great Lakes Coal up More Than 12% in September

Lake Carriers’ Association reported that coal shipments on the Great Lakes totaled 3 million tons in September, an increase of more than 12 percent compared to a year ago.

Containers, Cruises Help Boost Marseilles Fos

Container throughput at French port Marseilles Fos reached 876,711 teu for the period January to September, an increase of 6% on the first nine months last year.

Port of Long Beach Announces Executive Appointments

The Long Beach Board of Harbor Commissioners recently filled key Harbor Department executive posts with staff veterans as the Department continues to undergo a

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0749 sec (13 req/sec)