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DANMARKS STØRSTE INVESTORSITE MED DEBAT, CHAT OG NYHEDER

TANK - Frontline FRO/Oslo-NYSE / Q1/09 Rapport


12311 fcras 28/5 2009 11:13
Oversigt

:
Highlights

�� Frontline reports net income of $76.6 million and earnings per share of $0.98 for the first quarter of 2009.

�� Frontline announces a cash dividend of $0.25 per share for the first quarter of 2009.

�� The second VLCC newbuilding from Waigaoqiao, Front Queen, was delivered on May 18, 2009.

�� Frontline enters into agreement with two ship yards to cancel four Suezmax and two VLCC
newbuildingcontracts representing 33 percent of the newbuilding program and a total contractual cost of $556
million.

�� Frontline secures long term pre- and post delivery financing for two further VLCC newbuildings in an amount
of $146.4 million, representing 70 percent of contractual cost.

�� Frontline amends the time charter agreements on Front Lady and Front Highness to bareboat charters and
extends the periods to mid 2011. The vessels will be operated as floating storage units and will cease to trade
as regular tankers

- hele rapporten:

http://hugin.info/182/R/1318078/307659.pdf
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Presentation:

http://hugin.info/182/R/1318130/307688.pdf
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FRO website:

http://www.frontline.bm/



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