March 18th, 20200Norway’s Solstad Offshore and John Fredriksen’s SFL Corporation have agreed to terminate the bareboat charter agreements for 2007-built platform supply vessels Sea Halibut and Sea Pike. The vessels, which have been laid up since 2016, have been handed back to SFL. The agreement comes after a similar deal last month, where...
February 6th, 20200John Fredriksen’s SFL Corporation has announced the sale and delivery of 2002-built VLCC . The sale, to an unrelated third party for around $33.2m, will see the company bank around $30m after paying compensation to Fredriksen’s Frontline for the early termination of the charter attached to the vessel. Front Hakata was the last...
December 20th, 20190John Fredriksen’s Flex LNG has entered into a time charter with Spain’s Endesa for 2018-built (Samsung) LNG carrier . The charter is for one year, and will commence in June 2020 after the expiry of an existing charter with Endesa’s parent company Enel. Endesa also has a one-year extension option available. Øystein Kalleklev,...
December 4th, 20190John Fredriksen’s rig investment company Northern Drilling, which currently has a fleet of two drillship and two semi-submersible rigs, has announced plans to spin off the semi-submersibles into a new company called Northern Ocean. The West Mira and West Bollsta, which are contracted to Wintershall and Lundin respectively, will make...
November 27th, 20190John Fredriksen’s Frontline says it has struck a deal with China’s ICBC Financial Leasing for the sale-and-leaseback of ten suezmaxes it recently agreed to acquire from Trafigura. Frontline had acquired the newbuild tankers in a cash plus shares deal, announced in August. The subsequent financing deal with ICBC is worth up to...
November 25th, 20190John Fredriksen’s Flex LNG has entered into a long-term time charter with Gunvor’s Clearlake Shipping. The vessel chartered is hull 2479, currently under construction at South Korea’s DSME, and the charter is for five years firm and with options up to ten years. Kalpesh Patel, co-head of LNG at Gunvor, commented: “Gunvor is...
November 21st, 20190John Fredriksen’s Seadrill has announced the appointment of Glen Ole Rødland as chairman of the company, succeeding Fredriksen effective today. Rødland is currently chairman of offshore accomodation specialist Prosafe and consultancy AqualisBraemar, and is a former partner of Ferncliff and HitecVision. Commenting on the change,...
November 21st, 20190Birgitte Ringstad Vartdal, one of the most high profile women in Norwegian shipping, has resigned from her role of CEO at John Fredriksen’s dry bulk shipping arm Golden Ocean Management. Vartdal has held the position since April 2016, and prior to this was CFO. She steps down at the end of the month, although will remain available...
October 8th, 20190John Fredriksen’s Northern Drilling has cancelled the resale contract with South Korea’s DSME for ultra-deepwater drillship West Cobalt. The rig investment company said the cancellation was "due to various reasons including repudiatory breach of contract by DSME". Northern Drilling subsidiary West Cobalt Inc. has made advance...
September 19th, 20190John Fredriksen’s Frontline says that it has elected not to exercise an option with Trafigura subsidiary Trafigura Maritime Logistics (TML) to acquired pair of Chinese-built suezmax tankers. The options are part of a deal reached between the two companies last month which saw Frontline agreed to acquire 10 new Korean-built suezmax...
