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Frontline acquires VLCC "Front Vista" |
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Friday, 05 February 2010 |
 The Board of Frontline Ltd. announces that it has agreed to acquire the VLCC "Front Vista" (the "Vessel") from Ship Finance International Limited at a purchase price of USD 58.5 mill.
Frontline has furthermore agreed to sell the Vessel and the Buyer will
settle the purchase price through the payment of installments over a 10
year period. The Buyer has secured a 10 year time charter with a State
owned oil company at a gross rate of USD 43,500 per day during the
entire charter period.
The transaction reflects the Company's goal of securing long term coverage for parts of its fleet.
Source: Frontline Ltd.
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