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27 February 2020 The on-line newspaper devoted to the world of transports 05:29 GMT+1

August 23, 2019

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Original news
Frontline will acquire ten new tanker Suezmax of the Trafigura

Options in order to obtain other four ships of the same type

Trafigura Maritime Logistics (TML), society integrally controlled from the Trafigura group of Singapore, has tightened an agreement in order to sell ten tankers Suezmax constructed this year in South Korea to the Frontline, shipowning society with center to the Bermudas that is guided by John Fredriksen. The understanding includes other four options so that this last one can acquire tanker Suezmax of the TML they also constructed in 2019.

The agreement previews that for the cession of ten ships TML it obtains 16 million common stocks of the Frontline of the price of eight dollars each let alone a fee cash comprised between 538 and 547 million dollars. According to the forecasts, the transaction will be capacity to term between next 15 November and on March 15, 2020. To conclusion of the Trafigura transaction it will stop about 8.48% of the total of the common stocks of the Frontline.

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