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Fredriksen ordered bulk carriers from Chinese and Korean shipyards

2013-10-28 09:00

Norwegian shipowner Fredriksen's Frontline 2012 and Knightsbridge Tankers continue to expand their fleets through newbuilding projects.

According to TradeWinds, Frontline 2012 and Knightsbridge Tankers have ordered 180,000 DWT bulk carriers from shipyards in China and South Korea, with a total value exceeding US$200 million.

Frontline 2012 has signed a contract with Jiangsu New Times Shipbuilding Co., Ltd. for the construction of 2 + 2 optional Cape-size bulk carriers, scheduled for delivery in late 2015 and early 2016. Industry estimates put the price of each vessel at around US$50 million.

In addition, Knightsbridge Tankers has signed a Letter of Intent (LOI) with Dae Sun Shipbuilding & Engineering in South Korea for the construction of 2 bulk carriers, each costing approximately US$53 million. Ola Lorentzen, the company's CEO, stated that the formal construction contract is about to be signed.

Furthermore, Knightsbridge has also ordered 2 Cape-size bulk carriers from Japan Marine United in Japan, which are currently under construction.

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