Business Services Industry
Tankers International LLC Announces Withdrawal of Frontline Ltd. from VLCC Pool
Business Wire, May 8, 2002
Business Editors
HAMILTON, Bermuda--(BUSINESS WIRE)--May 8, 2002
Tankers International announced today that Frontline Ltd. is withdrawing its VLCCs from the Tankers International Pool. Tankers' Chairman, Morton P. Hyman, President and CEO of Overseas Shipholding Group, Inc. said that the Pool would continue and that the other founding Pool partners, A.P. Moller, Euronav, Reederei "Nord" Klaus E. Oldendorff and OSG, remain committed to building upon the past success of the Tankers Pool to expand its membership and maximize the commercial efficiencies of the Pool system. Notwithstanding Frontline's withdrawal, the Pool will remain the largest VLCC fleet in the world.
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