Frontline buys four Zhoushan VLCCs

Shanghai: Tanker shipping group Frontline has ordered four very large crude carriers (VLCCs) from Zhoushan Jinhaiwan Shipyard Co, Ltd in China for delivery in 2011, Frontline said on Monday.
Frontline said the deal included options on two additional VLCCs at a fixed price. It did not give financial details for the order of the 320,000 dwt vessels.
"The ordering of the tonnage has been done as a function of a positive market outlook, attractive contract price and payment terms, and is supported by the wish to continuously renew the fleet," Bermuda-registered Frontline Ltd said in a statement. [29/4/08]