Gotta love this business. I swear, the shipping industry is like something out of a James Clavell novel "Nobel House" (Which I just finished reading again)
I own stock in both
SFL and
FRO.
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Frontline to receive 25.4 mln USD due to early termination of vessel deal
OSLO (Thomson Financial) -
Frontline Ltd said it is to receive a one-off compensation payment of 25.4 mln usd from
Ship Finance International Ltd due to the early termination of a charter deal for the very large crude carrier (VLCC) Front Duchess.
The payment will be recognised in the first quarter of 2008, the Norwegian shipping firm said.