FRO – Acquisition of Six VLCCs Under Construction
Frontline Ltd. (NYSE and OSE: FRO) (“Frontline” or the “Company”) today announces that it has entered into an agreement for the acquisition through resale of six latest generation ECO-type VLCC newbuilding contracts.
The six VLCCs are currently under construction at the Hyundai Heavy Industries (“HHI”) shipyard in South Korea and are being acquired for an aggregate purchase price of $565.8 million, including an estimated $25.7 million in additions and upgrades to the standard specifications. The vessels are designed to operate on different fuels, including Biofuel, have the potential to be converted or retrofitted to consume fuel like LNG or Ammonia and consequently there is an ability to cut CO2 emissions to zero when technology, logistics and the regulatory framework allows for it. The newbuildings will also be fitted with Exhaust Gas Scrubber technology, high-end Anti Fouling systems, equipped with Digital Energy Pe
Frontline to boost fleet with six new VLCCs royalgazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from royalgazette.com Daily Mail and Mail on Sunday newspapers.
Frontline Ltd.: FRO - Acquisition of Six VLCCs Under Construction
Frontline Ltd. (NYSE and OSE: FRO) ( Frontline or the Company ) today announces that it has entered into an agreement for the acquisition through resale of six latest generation ECO-type VLCC newbuilding contracts.
The six VLCCs are currently under construction at the Hyundai Heavy Industries ( HHI ) shipyard in South Korea and are being acquired for an aggregate purchase price of $565.8 million, including an estimated $25.7 million in additions and upgrades to the standard specifications. The vessels are designed to operate on different fuels, including Biofuel, have the potential to be converted or retrofitted to consume fuel like LNG or Ammonia and consequently there is an ability to cut CO2 emissions to zero when technology, logistics and the regulatory framework allows for it. The newbuildings will also be fitted with Exhaust Gas Scrubber technology, high-end Anti Fouling systems, equipped with Digital Energy
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
GOGL – Preliminary results of the Subsequent Offering
Golden Ocean Group LimitedApril 26, 2021 GMT
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
26 April 2021, Hamilton, Bermuda
Reference is made to the stock exchange release by Golden Ocean Group Limited (NASDAQ and OSE: GOGL) (the “Company”) on 15 April 2021 regarding commencement of a subsequent offering of up to 2,710,377 new shares in the Company at a subscription price of NOK 53.00 per share, raising gross proceeds of up to approximately NOK 143.6 million (the “Subsequent Offering”).