Home About UsPublicationsForumsConsultingContact Us
Back to Earlier Search Results New Search Logout


CMA Shipping 2011

Marine Money Forums

Marine Money Asia Week

Freshly Minted Newsletter

Marine Finance Dashboard

Connecting the Dots – Frontline to DHT

Last week, we reported on DHT Holdings Inc.’s acquisition of a 2002 built VLCC. In fact, the deal had another layer of complexity, which is not surprising given the involvement of John Fredriksen. The vessel involved was the Front Eagle, which Frontline Ltd was chartering from a German KG. To consummate the transaction, the company exercised its purchase option and simultaneously sold the vessel to DHT for $67 million, while agreeing to charter back the vessel for two years at a rate of $32,500/day. The vessel is expected to deliver and go on charter in the 2nd quarter. For Frontline, the transaction will generate $10 million in cash and will reduce its capital lease obligations by approximately $37.3 million.

This is only an excerpt of Connecting the Dots – Frontline to DHT

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.

Existing Users Login


Related Archive Files

  • No Related Post

Written by: | Categories: Freshly Minted, The Week in Review | March 31st, 2011 |

Tags: · , ,

Leave a Reply

You must be logged in to post a comment.

Copyright 2008. Marine Money. All Rights Reserved.