Frontline 2012 helped by cancelled newbuildings

John Fredriksen's Frontline 2012 finished the 2nd quarter 2013 with net profits of USD 37.9 million, a majority of which came from cancelled newbuilding contracts.

BY KATRINE GRØNVALD RAUN

Cancelled newbuilding contracts was the primary driving force behind Frontline 2012's net profit of USD 37.9 million in the 2nd quarter 2013, according to the company's financial report. The result marks quite a shift compared to the same period 2012, where the company achieved a deficit of USD 4.8 million.

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Frontline 2012 helped by cancelled newbuildings

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Frontline lost USD 120 million in 2nd quarter

Sevan Drilling struggling against John Fredriksen takeover

Fredriksen raises 1.1 bil. USD for LNG newbuilds

Sign up for our newsletter

Front page now

Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"

A simple reason could explain low dry bulk rates despite good demand

Dubai challenges Singapore as shipping's favorite city

Opinion: Europe's key ports have become better connected after Covid

Cosco to build production chain for green methanol

Russia’s diesel ban threatens to roil global markets – if it lasts

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John Fredriksen has increased his wealth by NOK 81bn this year

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CMA CGM and Maersk will need help in new green lobbying alliance

Habben Jansen calls on energy majors to do more for the green transition

Further reading

Chief executive: Bolloré acquisition will transform Ceva's air cargo business

Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"

Carsten Mortensen wants to build green reefer ship for banana export

Dubai challenges Singapore as shipping's favorite city

A simple reason could explain low dry bulk rates despite good demand

Hapag-Lloyd were in talks to acquire state-owned port company

Jobs