ShippingWatch

A part of Watch Media

Frederiksen guarantees USD 200 million in Frontline

Frontline 2012 plans a USD 200 million capital injection, and John Fredriksen will put up a personal guarantee for the funds.

BY JØRGEN RUDBECK

Through the company Hemen Holding, owned by John Fredriksen, the Norwegian shipowner is now putting up a personal guarantee for a USD 200 million capital injection to shipping company Frontline 2012.

The capital injection will be used to finance planned newbuildings in the joint venture Avance Gas Holdings, and the funds will also be used for covering future expansion in the new collaboration, according to the company.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Stolt-Nielsen reports best quarterly profit in years

Photo: Stolt-Nielsen

Norwegian Stolt-Nielsen, which has acquired shares in competitor Odfjell, benefitted from higher volumes and spot rates in the chemical tanker market and predicts further improvement in the market. The company is, however, not quite ready for ordering newbuilds.

Skuld opens new office in Tokyo

Foto: Skuld

Skuld is to open a Japanese branch located in Tokyo. To lead the division, Skuld recruits former deputy general manager from Japan P&I Club.

Further reading

Related articles

Latest news

  1. Stolt-Nielsen reports best quarterly profit in years
  2. Skuld opens new office in Tokyo
  3. Production relocations from Asia may increase activities for DSV in Latin America
  4. Scan Global buys freight forwarder in Hong Kong
  5. Exceptions from CO2 quota system may prevent EU's climate effort, says NGO
  6. Christiania Shipping expects tripling of operating profit after deficit in 2021
  7. Maersk: Situation in Shanghai is stabilizing
  8. Marked decline approaching for exports from China to US
  9. Wage negotiations for German port workers postponed
  10. CMA CGM cements top-three position with purchase of container ships
  11. Maersk captain was convicted for offences on ship – authority demands stronger sentence
  12. Analysts predict Maersk to raise its full-year guidance
  13. G&O Maritime Group buys maritime supplier
  14. University launches board program for the shipping industry
  15. EU countries ready for CO2 quota negotiations – but without a shipping fund
  16. Maersk Drilling lands contract with Shell in the North Sea
  17. Belships adds two new ships to its fleet
  18. DSV grows markedly in Latin America – from 30 to thousands of employees in 13 years
  19. KPI Oceanconnect increased Asia volumes markedly last year
  20. Shell to supply CMA CGM with LNG in Singapore

See all

Job

See all jobs

See all jobs