FRO - Frontline Ltd. and Ship Finance International Limited agree on amended charter structure

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Go back to FRO - Frontline Ltd. and Ship Finance International Limited agree on amended charter structure

Frontline (FRO) Tops Q1 EPS by 7c; Enters Amended Charter Agreements with Ship Finance (SFL)

May 29, 2015 6:08 AM EDT

Frontline (NYSE: FRO) reported Q1 EPS of $0.25, $0.07 better than the analyst estimate of $0.18.

Frontline Ltd. also announced that the Company has entered into a heads of agreement to amend the terms of the long term charter agreements with Ship Finance International Limited (NYSE: SFK) for the remainder of the charter period.

A subsidiary of Frontline has 17 vessels on charter from Ship Finance with an average remaining charter period of 7.7 years. The new agreement will take effect from July 1, 2015 and will reflect a combination of reduced long-term base... More