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Stock impact report

FRO - Acquisition of VLCC Resale and Two LR2 Newbuildings

Frontline Plc Ordinary Shares (FRO) 
Last frontline plc ordinary shares earnings: 2/27 01:30 am Check Earnings Report
US:NYSE Investor Relations: frontline.bm/page/7/investor_relations
Company Research Source: GlobeNewswire
Frontline Ltd. (the "Company" or "Frontline") (NYSE:FRO) is pleased to announce that it has acquired a scrubber-equipped VLCC resale under construction at Hyundai Samho Heavy Industries ("HSHI") expected  to be delivered in May 2020 and has ordered two LR2 newbuildings from SWS, China, expected to be delivered in January 2021 and March 2021. This is in addition to the Company's recent acquisition of a scrubber-equipped Suezmax resale under construction at HHI due for delivery in May 2020. Robert Hvide Macleod, Chief Executive Officer of Frontline Management AS commented: "These transactions reflect Frontline's focus on increasing our exposure to the tanker market and are also part of a continuous effort to renew and modernize the Company's fleet. The latter has provided us with one of the most modern fleets in the industry with an average age of less than 5 years. As new opportunities arise, we will continue to execute our growth strategy as we position the Company to genera Show less Read more
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