Evercore Partners Upgrades Knightsbridge Tankers (VLCCF) to Overweight
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Go back to Evercore Partners Upgrades Knightsbridge Tankers (VLCCF) to Overweight
March 11, 2014 6:54 AM EDT
(Updated - March 11, 2014 10:30 AM EDT)
Global Hunter Securities upgraded Knightsbridge Tankers (NASDAQ: VLCCF) from Neutral to Buy with a price target of $16.00. The change follows news it reached an agreement to acquire six Capesize vessels.
"Considering the recent strength of... More
March 10, 2014 9:48 AM EDT
Frontline 2012 Ltd. and Knightsbridge Tankers Limited (Nasdaq: VLCCF) announced that they and Karpasia Shipping Inc (Karpasia), a company controlled by a trust established by John Fredriksen for the benefit of his immediate family have agreed for Knightsbridge to acquire five fuel efficient 180,000 DWT Capesize bulk carrier newbuildings from Frontline 2012 and one Capesize bulk carrier built in 2013 from Karpasia. The newbuildings were ordered by Frontline 2012 from Shanghai Waigaoqiao Shipbuilding Company Limited in China and have expected deliveries of between May 2014 and September 2014.
Knightsbridge has agreed to pay $61 million for each of the five Capesize... More
