Shanghai: John Fredriksen’s new firm Frontline 2012 is taking advantage of low newbuild prices. Korean shipbuilding newswire Asiasis reports that the company has signed Letters of Intent with Shanghai Waigaoqiao Shipbuilding (SWS) and STX Dalian for a series of capesizes. The SWS deal is reportedly for four plus two options of 180,000 dwt bulkers, while STX Dalian is close to securing a four plus four cape deal. The ships are costing around $45m each and will be delivered in 2014 and 2015. [04/01/13]
