Frontline Ltd. said its options expired to acquire four more Suezmax tankers from Trafigura Pte. Ltd. subsidiary Trafigura Maritime Logistics Pte. Ltd.
Each of the two options would have allowed Frontline to acquire two additional Suezmax tankers, but the first option lapsed Sept. 18 despite an extension, which terminates the second option, according to a Sept. 19 news release from Frontline.
The option was part of an earlier deal to acquire 10 Suezmax tankers from Trafigura in exchange for cash and stock.
