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            october 24, 2019

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Indiaexportnews.com

New time charter contracts

  07.09.2010    

Frontline Ltd. has entered into an agreement to time charter out two VLCCs: Front Eminence for a period of five years commencing November 2010 at a gross rate of $43,000 per day and Golden Victory for a period of three years commencing September 2010 at a gross rate of $40,000 per day. The latter has an option for the charterer to extend for further two years at a premium.
As a result, Frontline Ltd. fixed charter coverage is estimated to be 34 percent in 2010 and 26 percent in 2011. The entering into these time charter agreements is supported by the wish to increase the fixed charter coverage for the period 2011-2013 to 2010 levels.



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