Frontline 2012 said to ink LOIs for bulker newbuilds

JANUARY 4, 2013 – So, you thought John Fredriksen’s Frontline 2012 was a tanker company? Korean shipbuilding website Asiasis says that Frontline 2012 has reportedly signed Letters of Intent  to build up to 14 capesize bulkers with two Chinese shipyards: state-owned Shanghai Waigaoqiao Shipbuilding and STX Group-affiliated STX Dalian.

Prices are said to be around $45-46 million per ship for 2 014 and 2015 deliveries.

Asiasis cites industry sources as saying that the Frontline LOIs cover four plus option two 180,000 dwt newbuilds at Shanghai Waigaoqiao and four plus option four capesizes at STX Dalian.