Frontline orders two Suezmax tankers from China
(Reuters)
Updated: 2006-07-25 14:39
The world's biggest independent oil tanker group Frontline has ordered two
new Suezmax tankers from China's Jiangsu Rongsheng Heavy Industries Group Co.
Ltd. for an undisclosed sum, Frontline said on Monday.
"The vessels will
be delivered in November 2008 and February 2009," Frontline Ltd. said in a
statement.
It added that it had secured options for a further four similar Suezmax
tankers.
Frontline said that the new vessels were priced more than $15 million lower
than the indicated price level for 2006 delivered tonnage.
It said the
new vessels would help to renew the fleet and reflected an "opportunistic
investment approach with great flexibility."
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