FRO - New Time Charter Contracts

(Thomson Reuters ONE) -


Frontline Ltd. (the "Company") is pleased to announce that the Company 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, our 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.

September 6, 2010
The Board of Directors
Frontline Ltd.
Hamilton, Bermuda


Questions should be directed to:

Jens Martin Jensen: Chief Executive Officer, Frontline Management AS
+47 23 11 40 99

Inger M. Klemp: Chief Financial Officer, Frontline Management AS
+47 23 11 40 76

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


[HUG#1442919]








This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Frontline Ltd. via Thomson Reuters ONE

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Bereitgestellt von Benutzer: hugin
Datum: 07.09.2010 - 08:46 Uhr
Sprache: Deutsch
News-ID 41464
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contact information:
Town:

Hamilton

Kategorie:

Business News

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