New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 10, 2014
09:26 EDTFRO, VLCCFKnightsbridge Tankers to purchase six Capesize bulk carriers from Frontline
Knightsbridge Tankers (VLCCF) and Frontline (FRO) announced that they and Karpasia Shipping, a company controlled by a trust established by John Fredriksen for the benefit of his immediate family have agreed for Knightsbridge to acquire five fuel efficient 180,000 DWT Capesize bulk carrier newbuildings from Frontline and one Capesize bulk carrier built in 2013 from Karpasia. The newbuildings were ordered by Frontline from Shanghai Waigaoqiao Shipbuilding in China and have expected deliveries of between May 2014 and September. Knightsbridge has agreed to pay $61M for each of the five Capesize newbuildings and $55M for the Capesize built in 2013. Of the total consideration of $360M, $186M will be paid in shares of Knightsbridge at $10 per share, $150M in absorption of remaining newbuilding CapEx and $24M in cash. Accordingly, Knightsbridge has agreed to issue 15.5M shares to Frontline and 3.1M shares to Karpasia, or another company controlled by trusts established by John Fredriksen for the benefit of his immediate family, on closing of the transaction. Knightsbridge will seek to raise around $30M in bank debt per vessel.
News For VLCCF;FRO From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
August 26, 2015
09:25 EDTFROOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Abercrombie & Fitch (ANF), down 15.1%... Express (EXPR), up 9.8%... Frontline (FRO), up 10.4%... Chico's FAS (CHS), up 9.3%. ALSO HIGHER: Oshkosh (OSK), up 11.9% after being awarded a $6.7B contract by the U.S. Army... EMC Corporation (EMC), up 5.8% after Re/code reported that the board is considering a VMware (VMW) downstream merger proposal... Google (GOOG), up 4.6% after being upgraded to Conviction Buy from Neutral at Goldman... Ford (F), up 2.4% after Bloomberg reported that the company is considering returning production of Bronco and Ranger to the U.S. NOTABLE: Cameron International (CAM), up 45.4% after announcing that it will be acquired by Schlumberger (SLB). Schlumberger is down 1.9%. LOWER: WisdomTree (WETF), down 3.6% after being downgraded to Sell from Buy at Citi... Transocean (RIG), down 3.4% after proposing to cancel Q3 and Q4 dividends.
05:26 EDTFROFrontline reports Q2 EPS 11c, consensus 17c
Subscribe for More Information
August 25, 2015
05:20 EDTFROFrontline files registration statement with SEC for merger with Frontline 2012
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use