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FRO - Sale and time charter back of VLCC
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FRO - Sale and time charter back of VLCC
Moby-Dick on Tue Jan 04, 2011 8:44 am
("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.
Source: Frontline Ltd.
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.
Source: Frontline Ltd.
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