Chevron taking trio
Oil major Chevron is buying three suezmaxes from Frontline as it ends their bareboat charters early.
The Oslo-listed shipowner said the company is taking up a purchase option on the the 157,000-dwt Cygnus Voyager and 136,000-dwt Altair Voyager (both built 1993), and the 156,000-dwt Sirius Voyager (built 1994).
They were due to be chartered to Chevron until 1 April next year, but Frontline revealed the major had told it in July that it wanted to terminate the deals early.
Talks are ongoing between the two parties to finalise a date.
Frontline CEO Jens Martin Jensen told TradeWinds the company would suffer no financial loss as a result and the contracts would be paid up in full.