Frontline Ltd. and OMI Corp. announced today the formation of `Alliance Chartering LLC`, which will handle the chartering of the companies` Suezmax fleets. This company will initially operate from the offices of the two owners, with a view to open a joint office as soon as feasible.
John Fredriksen, CEO of Frontline stated that `the chartering of the fleets, including three vessels being delivered to each company this summer, presents opportunities to reduce overhead costs for both companies and to offer a more efficient and flexible service to our customers`. Mr. Stevensen of OMI agreed, noting that `these are two of the best fleets in our business. We expect to be able to better service our customers` needs through this company.`
The new chartering company will initially commercially manage a fleet of 26 Suezmax tankers and OBOs. In addition, the companies have 10 newbuildings on order.
Frontline - Sten Ahren +47 23 11 40 19 OMI - Fred London +1 212 297 2160