Frontline to Modernize Fleet, Net Gain Expected from VLCC Sales

MT Newswires Live

01/09

Frontline (FRO) said late Thursday it will sell eight older first-generation ECO Very Large Crude Carriers for $831.5 million, expecting about $486 million in net cash proceeds and a Q1 2026 gain of roughly $217 million to $227 million.

At the same time, the company said it plans to acquire nine latest-generation scrubber-fitted ECO VLCCs for $1.224 billion from Hemen Holding.

Seven of the vessels are set for delivery in 2026, with the rest due in 2027, and the acquisition will be funded with cash and long-term debt, the company added.

Shares of Frontline were up over 3.9% in after-hours trading.

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