Frontline acquires two modern Suezmaxes
| Source: Frontline plc.
The two ships bring Frontline’s fleet of Suezmaxes up to 28 modern vessels, and increase the Alliance fleet, including newbuildings, to 42 vessels.
Frontline’s Chairman, John Fredriksen, says in a comment to the transaction: ”The take-out of Euronav from the Suezmax market is another step forward in the consolidation process. The additions of two modern double hull Suezmaxes should make it possible for us to improve the service to our customers, as well as further optimise the economy of scale and the trading flexibility of our fleet.
It is of special importance for Frontline to find ways to grow our company in today’s strong freight market without adding new orders to the orderbook. With the positive outlook for the tanker market the Board is confident that the acquisition of the two ships will be a good investment for our shareholders.”
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