FRO News & Events

Frontline announced it has entered into an agreement to acquire nine latest generation scrubber-fitted ECO VLCC newbuilding contracts from an affiliate of Hemen Holding for an aggregate purchase price of $1.22B. Seven of the vessels are due for contract delivery during 2026, with the remaining two expected in 2027. The company intends to finance the acquisition with cash and long-term debt financing.

Frontline announced it has entered into an agreement to sell eight of its oldest first-generation ECO Very Large Crude Carriers, built between 2015 and 2016, for a total sales price of $831.5M. Delivery to the new owner is scheduled for the first quarter of 2026. After repayment of debt, the transaction is expected to generate net cash proceeds of approximately $486M, and the company anticipates a gain of approximately $217.4M- $226.7M.