Frontline Tied to Bulker Pair Order

Illustration, Image Courtesy: GOGL

John Fredriksen-controlled tanker owner and operator Frontline has reportedly ordered two 81,500 dwt bulk carriers at Chinese Shanhaiguan Shipbuilding Industry.

The two bulkers are scheduled for delivery in the third and fourth quarter of 2019 respectively, according to the data from Asiasis.

Price details of the two ships were not disclosed.

In its full-year report for 2017, the company boasted of a strong liquidity position which stood in excess of USD 300 million, hinting potential investments in bolstering of fleet capacity.

The bulkers are most likely intended for Fredriksen’s dry bulk shipping business Golden Ocean Group (GOGL).

Currently, GOGL’s operating fleet is comprised 78 vessels, with an aggregate capacity of 10.7 million dwt.

The latest vessel count follows the company’s completion of its newbuilding program in the first quarter of this year as GOGL took delivery of five new vessels.

World Maritime News Staff

 

 

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