FRO - Exercise of options for Suezmax newbuildings contracts
Press release from Frontline Ltd. 20.03.2007
As previously reported in July 2006, Frontline Ltd. ("Frontline" or the "Company") has been granted 2 + 2 options for 156,000 dwt Suezmax newbuilding contracts at Jiangsu Rongsheng Heavy Industries Group Co. Ltd. in China. The Company has now exercised two of these options. The vessels will be delivered in April and June 2010.
Frontline will after this have 6 Suezmax and 4 VLCC newbuildings on order.
The ordering confirms Frontlines position as a leading operator and owner of quality Suezmax tonnage in addition to its position as the world's largest operator and owner of VLCCs.
March 19, 2007
The Board of Directors
Questions should be directed to:
Bjørn Sjaastad: Chief Executive Officer, Frontline Management AS
+47 23 11 40 99
Inger M. Klemp: Chief Financial Officer, Frontline Management AS