John Fredriksen’s Frontline has snapped up two newbuildings from sibling Golden Ocean following their conversion from capesizes to suezmaxes.
Oslo and New York-listed Frontline will pay $55m for each of the ships that are under construction at New Times Shipbuilding.
Frontline will take delivery of the suezmaxes in the first quarter of 2017.
Dividend debate settled
The changes came as Frontline and Frontline 2012 reported their third quarter accounts ahead of a shareholder vote to rubber stamp a merger between the two companies.
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