Euronav Luxembourg Sa News

Knightsbridge Tankers Limited has secured medium-term time charter contracts for two of the company's five very large crude carriers (VLCCs). The company has chartered the vessels to Tankers International LLC, each for a period of three years at a rate of $30,000 per day with a 50:50 profit sharing arrangement for earnings in excess of $30,000 per day calculated by reference to the BITR Index. Tankers International LLC is a pool for the commercial operations of four large tanker owners and operators: A.P. Moller, Euronav Luxembourg SA., Overseas Shipholding Group, Inc and Reederei "Nord" Klaus E. Oldendorff. The two time charters will commence prior to April 30, 2004.

Knightsbridge Tankers Limited announced it has secured medium-term time charter contracts for two of the company's five very large crude carriers (VLCCs). The Company has chartered the vessels to Tankers International LLC, each for a period of three years at a rate of $30,000 per day with a 50:50 profit sharing arrangement for earnings in excess of $30,000 per day calculated by reference to the BITR Index. Tankers International LLC is a pool for the commercial operations of four large tanker owners and operators: A.P. Moller, Euronav Luxembourg SA., Overseas Shipholding Group, Inc and Reederei "Nord" Klaus E. Oldendorff. The two time charters will commence prior to April 30, 2004.

The Bermuda-based Frontline Ltd. from OMI at $5.70 over a six month period. average of $20,000 per day for one year from delivery. expected early in the third quarter. Alliance Chartering, the cooperation between OMI and Frontline. shares. Symphony, to two German K/Gs promoted by Dr. Peters GmbH. are expected delivered to the new owners this month. charter period. SA (Euronav) and Overseas Shipholding Group, Inc. interests in six joint companies, which each own a VLCC. 50.1% each. in the four last mentioned vessels. to Frontline's commercial operations in Oslo. vessel will keep its current ownership structure intact.