Frontline (FRO) Tops Q2 EPS by 10c, Revenues Beat

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Frontline (FRO) Acquires Fleet of Suezmax Tankers from Trafigura

August 23, 2019 5:44 AM EDT

Frontline Ltd. (NYSE: FRO), today announced that it has entered into a sale and purchase agreement with Trafigura Maritime Logistics (TML), a wholly-owned subsidiary of Trafigura Pte Ltd (Trafigura) and certain related entities to acquire ten Suezmax tankers built in 2019 through the acquisition of a TML special purpose vehicle which holds the vessels (the Acquisition). As part of the Acquisition, Frontline has options to acquire an additional four Suezmax tankers built in 2019 through the acquisition of a second TML special purpose vehicle.

Acquisition Overview

Frontline to acquire ten Korean... More