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Frontline secures over half a billion for Trafigura ship purchases

Frontline has signed a leaseback deal with a Chinese leasing company, which will be used to fund the remaining part of its acquisition of ten ships from Trafigura.

Photo: Frontline

Norwegian tanker operator Frontline has made a sale-and-leaseback deal with Chinese leasing firm ICBC Financial Leasing worth USD 544 million, the former states in a press release.

The funds will be used to finance the remaining part of Frontline's purchase of ten suezmax vessels from commodity trader Trafigura, which the two companies agreed upon in September.

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