Frontline to Purchase VLCC Newbuildings

Monday, April 28, 2008

Frontline Ltd. (Frontline) has entered into a contract with Zhoushan Jinhaiwan Shipyard Co.,Ltd. in for delivery of four 320,000 dwt VLCC newbuildings. The vessels will be delivered from June 2011 until December 2011. Frontline has also secured options for further two similar VLCC newbuildings at a fixed price.
 The ordering of the tonnage has been done as a function of a positive market outlook, attractive contract price and payment terms, and is supported by the wish to continuously renew the fleet. Frontline's affiliated company Golden Ocean Group Limited has very good experience with the quality and deliverability of Jinhaiwan shipyard. It has been of vital importance for the Board that the deal can be executed and financed without significantly reducing Frontline's dividend capacity in the short to medium term. The ordering confirms Frontline's position as a leading operator of quality VLCC tonnage.

 

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

Vessels

USCG Monitors LNG Carrier Repair in Alaska

The U.S. Coast Guard (USCG) is monitoring repairs aboard the liquid natural gas (LNG) carrier Excel in Homer, Alaska.    The vessel was received an order from

CPA Signs MOU with Nederex and Damen

Curacao Ports Authority NV (CPA) signed a Memorandum of Understanding with Nederex BV. (Nederex) and B.V. Damen Shipyards Gorinchem (Damen) on April 30.  Damen

SENER Develops Multipurpose Subsea Support Vessel

Operators are demanding more efficient, less consuming and more capable vessels, while shipbuilders need to achieve it in a very competitive environment. As a ship design firm,

 
 
Maritime Security Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar 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: 0.2385 sec (4 req/sec)