Frontline Sells Tanker for $141.5m

Tuesday, September 26, 2006
Bermuda-based tanker operator Frontline Ltd. said Tuesday it agreed to sell its VLCC Front Beijing, which was delivered in 2006, for gross proceeds of $141.5 million. Delivery to the buyers is expected to take place in November. Frontline will record a gain of about $59 million on the transaction, and will generate approximately $58 million in additional liquidity which will partly be used to fund pre-delivery installments in Frontline's newbuilding program, and will strengthen its dividend capacity going forward.
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Electronics

K-Sim Engine Chosen for Malaysia's Defense University

The National Defense University of Malaysia has selected Kongsberg Maritime’s Engine Room Simulator platform K-Sim Engine for its facility in Kuala Lumpur. The contract,

NAVTOR AS, Nautic AB Launch Complete Navigation Solution

E-navigation specialist NAVTOR has joined forces with Nautic AB, a provider of navigational equipment, charts and publications to the Swedish market, to launch NAVTOR NAUTIC AB.

Danelec to Lead Working Group in EU’s EfficienSea2

Danish marine electronics company Danelec Marine informs it will oversee a working group in the European Union (EU) EfficienSea2 maritime innovation project designed

Tanker Trends

Red Tape, Industrial Relations Could Stifle LNG Potential

Australia could develop the world’s most technologically advanced LNG industry, according to a report by Accenture. But if industry is to reach its potential

HSH Bank to Split Off Bad Shipping Loans

German lender HSH Nordbank could split off a "bad bank" for non-performing shipping loans as part of a plan to create a sustainable business model, according to a person familiar with the matter.

Gail to Sell LNG Supplies from US to Shell?

GAIL (India) Ltd has signed a preliminary deal with Royal Dutch Shell for the potential sale of liquefied natural gas (LNG) supply sourced from its portfolio, made up of US production,

 
 
Maritime Contracts Maritime Standards Navigation Pipelines Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.0768 sec (13 req/sec)