The ship would return to service once it completes repairs, currently ongoing in Dubai.
Frontline
Trafigura’s Strategy Rips Major Gains As Frontline Buys 10 Suezmax
- Trafigura’s Infrastructure assets investment strategy received a major boost as Frontline made a $547 million deal for its Seuzmax
- The company will also get 8% percentage of Frontline’s shares
- This deal boosts both Trafigura’s cash inflow and scrubbers investment outlook which made it retrofit 16 suezmax & 17 tankers.
- Frontline is taking the help lending banks and its shareholder Hemen Holding for this project.
- Frontline will charter 5 vessels back to Trafigura after 3 year charter at $28,400...
http://mfame.guru/trafiguras-strategy-rips-major-gains-as-frontline-buys-10-suezmax/
Frontline Buying Up to 14 Suezmax Tankers from Trafigura
The company signed a deal to purchase ten 2019-built tankers, with options for four more units.
Trafigura Takes Stake in Frontline
By Victoria Klesty and Terje Solsvik OSLO, Aug 23 (Reuters) – Frontline has agreed to buy 10 Suezmax oil tankers from Trafigura in a cash and share deal worth up to $675 million which will make the Geneva-based trading firm the group’s second biggest shareholder. Under the terms of the deal...
Trafigura Agrees Sale Of A Fleet Of Suezmax Tankers To Frontline
Trafigura Marine Logistics (“TML”), a wholly-owned subsidiary of Trafigura Pte Ltd (“Trafigura”), announced that it has entered into an agreement to sell ten Suezmax tankers built in 2019 to Frontline Ltd. (“Frontline”) (NYSE and OSE:FRO), through the sale of a TML special purpose vehicle which holds the vessels (the “Transaction”). As part of the transaction, options have also been agreed for Frontline to acquire a further four Suezmax tankers built in 2019 through the sale of a second TML...
Trafigura’s Big Bet on Shipping Pays Off With Frontline Deal
By Andy Hoffman (Bloomberg) — Commodities trader Trafigura Group Pte Ltd.’s big bet on shipping paid off as it agreed on a tanker sale that will give it much-needed cash and a stake in one of the world’s largest oil-freight firms. Frontline Ltd., the Oslo-based oil tanker company backed by...
Trafigura Launches Ship Fuel Venture With Frontline and Golden Ocean
Commodities trader Trafigura is joining forces with shipping firms Frontline and Golden Ocean to supply marine fuel ahead of a shake up in regulation which could disrupt delivery and cause prices to spike, reports Reuters.
Kick start in the third quarterThe three companies said the joint venture is expected to start operating in the third quarter, subject to agreement on final terms.
From Jan. 1, International Maritime Organization (IMO) rules will bar ships from using marine, or bunker, fuel...
http://mfame.guru/trafigura-launches-ship-fuel-venture-with-frontline-and-golden-ocean/
Golden Ocean, Frontline Invest in Bunkering JV with Trafigura
The JV is expected to start operations in the third quarter of 2019.
Low Sulphur Fuel Giant Planned for Launch
OSLO, Aug 13 (Reuters) – Commodities trader Trafigura is joining forces with shipping firms Frontline and Golden Ocean to supply marine fuel ahead of a shake up in regulation which could disrupt delivery and cause prices to spike. The three companies said on Tuesday the joint venture is expected to...
Frontline Acquires VLCC Resale, Orders LR2 Duo
Company acquired a scrubber-fitted VLCC resale from HSHI and ordered two LR2 newbuildings in China.
https://worldmaritimenews.com/archives/278941/frontline-acquires-vlcc-resale-orders-lr2-duo/