Business Services Industry
Ship Finance International Limited acquires two Suezmax newbuilding contracts from Frontline Ltd
Nordic Business Report, Nov 7, 2006
NORDIC BUSINESS REPORT-7 November 2006-Ship Finance International Limited acquires two Suezmax newbuilding contracts from Frontline Ltd(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com
Norwegian-controlled Bermuda-based tanker owning company Ship Finance International Limited (NYSE: SFL) said on Tuesday (7 November) that it has taken over two Suezmax tanker newbuilding contracts from its affiliated tanker shipping company Frontline Ltd.
The new 153,000 dwt vessels will be built by Jiangsu Rongsheng Heavy Industries Group Co Ltd in China, and are scheduled for delivery in the first and third quarter of 2009.
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"The vessels are a part of a series of vessels ordered by Frontline at the shipyard, and the company considers the price and payment terms to be attractive. Frontline will perform building supervision and shipyard follow-up on Ship Finance's behalf," Ship Finance International said.
The vessels will be marketed for medium to long-term employment.
Ship Finance International is registered in Bermuda, but has an office in Oslo, Norway. The company owns a fleet of some 60 vessels. Ship Finance International is listed on the New York Stock Exchange.
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