Frontline 2012, the consolidating offshoot of John Fredriksen’s tanker company Frontline Ltd., has taken delivery of the first vessel out of five dozen newbuilds expected by 2016.
Frontline 2012 said Monday that they have taken delivery of Front Arrow, the lead vessel in a series of six fuel efficient newbuild medium-range tankers ordered from South Korea’s STX Offshore & Shipbuilding Co.
Front Arrow is the first vessel delivered out of 60 currently on order by Frontline 2012, with the last units being delivered in early 2016 and spread across the product (MR and LR2), gas (VLGC) and dry bulk segments (Capesize), Frontline 2012 says.
Front Arrow aside, Frontline 2012’s fleet currently consists of six VLCC’s and four Suezmax tankers all built within 2009 and 2010 and purchased from Frontline Ltd. following the company’s 2012 corporate restructuring deal.
Last week it was revealed that Frontline’s 2012 board was considering breaking up the company even further to include a dry bulk company, an LPG company and a crude/product company.