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 April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Electronics

Beier Radio Celebrates 70th Anniversary

Beier Radio, Inc. marks 70-years of providing engineering, sales and service for marine electronics around the globe. During its 70 years in business, Beier Radio

E-Procurement Streamlined via the Cloud

Marine Procurement Solutions (MPS) has built an electronic platform that aims to enhance the purchasing cycle for the maritime industry. MPS provides software,

Northrop Grumman Navigation Systems for Canadian Navy

Northrop Grumman Corporation's Sperry Marine business unit has been selected to design and supply gyrocompass navigation systems for 12  Kingston Class coastal

Tanker Trends

Med Crude-Urals Stronger in Baltic as Surgut Sells Cargoes

Russian Urals crude price differentials strengthened in the Baltic in a spot tender on Tuesday after loading schedules confirmed scarce export volumes for May.   There

Tank Coating for Navig8 Chem Carriers

Shipowner Navig8 is progressing the application of Interline9001, a advanced cargo tank coating from AkzoNobel’s International marine product range, on a series

Containers, Crude Drive Q1 Increase at Marseille Fos

A record month for containers and a revival in crude oil imports boosted first quarter throughput at leading French port Marseille Fos to 20.1 million metric tons – up by 1.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage 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: 0.1304 sec (8 req/sec)