Frontline Buys Six Scrubber-Fitted VLCCs

by Ship & Bunker News Team
Wednesday May 19, 2021

Shipping company Frontline has bought six new VLCCs equipped with scrubber systems.

The ships are under construction at the Hyundai Heavy Industries shipyard in South Korea and are being acquired for $565.8 million, Frontline said in a statement on its website on Tuesday.

As well as being equipped with scrubbers, the ships will be capable of running on biofuel and have the potential to be converted to run on LNG or ammonia at a later date. The company did not specify whether the tankers have been awarded an LNG-ready or ammonia-ready notation from a classification society, which might indicate a more considered plan to convert the ships in the coming years.

The first five ships are due for delivery in 2022, starting from the first quarter, and the last one in the first quarter of 2023.

"This transaction is consistent with our core company goals to increase exposure to the VLCC market without adding to existing vessel supply," Lars Barstad, interim CEO of Frontline Management, said in the statement.

"It further cements Frontline's position in respect of owning a modern, high quality, fuel efficient fleet.

"The delivery schedule for these vessels is particularly attractive, in a timing window regarded closed for new orders.

"With this acquisition Frontline is tangibly moving on our journey towards lower carbon emissions."

Earlier this month Alphatanker forecast a majority of VLCCs will be equipped with scrubbers by 2025.

Ship & Bunker News Team
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