Photo credit: Frontline
OSLO, Oct 1 (Reuters) – Crude oil shipping firms Frontline Management and Tankers International formed a chartering joint venture called VLCC Chartering Ltd to increase their joint fleet size and reduce operating costs, the two firms said on Wednesday.
“VLCC Chartering will have access to the combined fleets of Frontline and the TI Pool and will primarily identify the right ship for each cargo offered and on that basis select one ship to bid taking into consideration operational factors,” the firms said in a joint statement.
Frontline Management operates both Frontline and Frontline 2012, the tanker arms of Norwegian shipping tycoon John Fredriksen. (Reporting by Balazs Koranyi)
© 2014 Thomson Reuters. All rights reserved.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,943 members that receive our newsletter.
Have a news tip? Let us know.
The Port of Los Angeles reported a 19% increase in container units handled in March, marking the eighth consecutive month of year-over-year growth. The port processed 743,417 TEUs in March,...
The U.S. Department of Transportation’s Federal Transit Administration (FTA) has announced the availability of $316 million to support and modernize passenger ferry services across the country. The funding, part of...
Global shipping giant Maersk has released a detailed update on its operations following the collapse of Baltimore’s Key Bridge. The company, which chartered the MV Dali, has now confirmed that...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 105,943 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
