Frontline extends options on Trafigura suezmax pair

Frontline extends options on Trafigura suezmax pair

John Fredriksen’s Frontline and Trafigura subsidiary Trafigura Maritime Logistics (TML) have agreed to extend an option for Frontline to acquire two Chinese-built suezmax tankers, from September 12 to September 18.

The options are part of a deal reached between the two companies last month which will see Frontline acquire up to 14 suezmaxes. Frontline has agreed to acquire 10 new Korean-built suezmax tankers, and has a further two options each for two additional Chinese-built suezmaxes.

The initial 10-vessel deal is being paid in a mix of cash plus shares and will see Trafigura will own a stake of around 8.48% of Frontline.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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