The finance deal, at Libor plus 2.3% interest, gives Frontline purchase options throughout the seven-year term

The offloading of Pacific Direct Line was already disclosed in a Alphaliner newsletter last week

TEN will post its fourth quarter of 2019 results on March 24

Lloyd’s List understands that the lessors will cease to be classed as owners after the deal completes, which suggests PIL will need to pay off the financers’ loans before the sale completes

The US Energy Information Administration said it expects monthly natural gas production to decline from last year’s record levels, as lower natural gas prices reduce incentives 

Genco says that the coronavirus outbreak has reduced the demand for cargoes including iron ore and coal

The merger will see the creation of one of the biggest players in the bunker sector

Fraser Surrey Docks was founded in the early 1960s and has become the largest modern and multi-purpose terminal on the west coast of North America, operating some 1,200 m of berth and 189 acres of yard

The deal is the second in a year for the Greece-based company