FRO - Sale and time charter back of VLCC
Moby-Dick at 09h44
04
Jan
2011
FRO - Sale and time charter back of VLCC
("Frontline") has agreed to sell its 2006-built VLCC Front Shanghai. The net sale proceeds are $91.24 million. Frontline has in connection with the sale agreed to charter back the ship from the new owner.
The duration of the time charter is about two years at a rate of $35,000 per day. Delivery to the new owners and commencement of the time charter is expected to take place concurrently in the second half of January.
("Frontline") has agreed to sell its 2006-built VLCC Front Shanghai. The net sale proceeds are $91.24 million. Frontline has in connection with the sale agreed to charter back the ship from the new owner.
The duration of the time charter is about two years at a rate of $35,000 per day. Delivery to the new owners and commencement of the time charter is expected to take place concurrently in the second half of January.
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04/01/2011 at 09h44 by "Moby-Dick"
