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HomeMaritime NewsRegionsAmericasDHT takes delivery of first BW VLCC despite Fredriksen legal challenge

DHT takes delivery of first BW VLCC despite Fredriksen legal challenge

DHT takes delivery of first BW VLCC despite Fredriksen legal challenge
Despite a legal challenge from John Fredriksen’s Frontline DHT Holdings has taken delivery of its first of 11 VLCCs from BW Group.

New York Stock Exchange-listed DHT said the company had taken delivery of the DHT Utik on Thursday, the first of nine VLCCs currently on the water that it its buying from BW.

DHT is buying BW’s fleet of 11 VLCCs, including two newbuilds for $538m with the Singapore-headquartered owner taking a 33.5% stake in DHT as part of the deal.

The transfer of the first VLCC came despite legal challenge in the New York courts by John Fredriksen’s Frontline. Prior to the BW deal being announced Frontline had made an all share takeover bid for DHT which was rejected on two occasions.

TAGS: Asia Europe Tankers Finance & Insurance Regions VLCC

 

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