Profile: Frontline Ltd (FRO.N)
25 Oct 2016
Frontline Ltd., incorporated on June 12, 1992, is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. The Company operates through the tankers segment. The tankers segment includes crude oil tankers and product tankers. The Company operates through subsidiaries and partnerships located in Bermuda, India, the Philippines, Liberia, Norway, the United Kingdom and Singapore. It is also involved in the charter, purchase and sale of vessels.
The Company's fleet consists of approximately 90 vessels, including newbuildings, with an aggregate capacity of approximately 15 million deadweight ton (dwt). The Company's operating fleet consists of over 24 vessels that it owns; 15 vessels that are under capital leases; one very large crude carrier (VLCC) that is recorded as an investment in a finance lease; three vessels chartered-in for periods of over 12 months, including extension options; nine vessels that are under commercial management; seven product tankers that are chartered-in on short term time charters with a remaining duration of over one year with options to extend, and one VLCC where cost/revenue is split 50/50 with a third party. The Company also has a newbuilding program of approximately 28 vessels, which consists of over six VLCCs, eight Suezmax tankers and 14 LR2s.
The Company owns various vessel owning and operating subsidiaries. Its operations take place outside of the United States. Its VLCCs are designed for the transportation of crude oil and, due to their size, are primarily used to transport crude oil from the Middle East Gulf to the Far East, Northern Europe, the Caribbean and the Louisiana Offshore Oil Port (LOOP).
Par-La-Ville Place, 14 Par-La-Vi
HAMILTON HM 08