Frontline Ltd. (NYSE and OSE: FRO) (“Frontline” or the “Company”) today announces that it has entered into an agreement for the acquisition through resale of six latest generation ECO-type VLCC newbuilding contracts.
The six VLCCs are currently under construction at the Hyundai Heavy Industries (“HHI”) shipyard in South Korea and are being acquired for an aggregate purchase price of $565.8 million, including an estimated $25.7 million in additions and upgrades to the standard specifications. The vessels are designed to operate on different fuels, including Biofuel, have the potential to be converted or retrofitted to consume fuel like LNG or Ammonia and consequently there is an ability to cut CO2 emissions to zero when technology, logistics and the regulatory framework allows for it. The newbuildings will also be fitted with Exhaust Gas Scrubber technology, high-end Anti Fouling systems, equipped with Digital Energy Performance solutions as well as compliant with specific Exxon Mobile lightering requirements to allow for maximum trading flexibility.
The delivery schedule is very attractive with five vessels delivering during 2022 starting in Q1 and the last vessel in Q1 2023.
Thanks Indigo. Now let’s play catch-up and get some positive news.
GLA
Indigo, What exactly are these Quadrise emails I keep receiving all about. You must know. I cannot see any spike or dramatic drop in share price and this is not the first time I have received these and only for Quadrise.
Second Price Monitoring Extension
A second and final Price Monitoring Extension has been activated in this security. The auction call period is extended in this security for a further 5 minutes.
Following the first price monitoring extension this security would still have executed more than a pre-determined percentage above or below the price of the most recent automated execution today. London Stock Exchange electronic order book users have a final opportunity to review the prices and sizes of orders entered in this security prior to the auction execution.
Sticks and stones Sali, at least a few of us have smiled this morning, get back into bed, have a good sleep and then start again, you might find people then enjoy your presence on here.
Thanks dusty, keep em coming. At least you know what you are talking about, far better than me.....
Keep smiling Kurly, looks like Sali has fallen out of the wrong side of the bed again. I wonder if he ever smiles.....
Why buy into something you cannot buy a pint down the pub with. A great many of the younger generation that drink in my local are buying/selling Crypto and all learning to be gamblers, they feel they cannot lose. The consequences when Crypto pops will be catastrophic for a whole generation. Hmmm and who do you point the finger at..........
Strange week, ups and downs and back to where we began it. But why is there no news, I would like to think that behind the scenes the projects are all progressing well, despite being way behind any timelines promised during 2020. Mike and Jason and the QFI team have to be working tirelessly to bring this all together, I would like to think so, their personal rewards for success are massive but they still need to get the SP higher to claim those rewards and for that to happen we need results. I can see no point in finding more projects to get involved in, the ones we have covered, if all have a positive outcome, will make this SP fly to the stars, but what is going on in the office. I would like to think M and J are doing everything possible to make it happen but where is the news.
Something has to give soon, if anything negative has taken place behind the scenes we would have to be told, so what is happening in the boardroom, what conversations are taking place, management have to be doing something.
Utah, the plant has had teething problems but as mentioned what comes out of there has to be of consistent quality, that problem is now resolved I believe and surely samples are on their way to the U.K. for testing. News must come soon.
MSC, that must be progressing, they are a huge company and one would think if they set their mind to it they could get one of their vessels adapted and fuel in place very quickly. An announcement must be imminent on this project, as has been said on here many times, the fuel works, what is the hold up, if any. News must come soon.
Our power station project. This cannot have been standing still due to Covid, maybe it is bot seen as a priority right now. This is a government backed initiative I believe which could explain any delays, but by now one would have thought that MSAR would be flowing through the pipes and testing would be underway. News must come soon.
And BioMSAR. How are the trials going with that. If the engine that the trials are being run on had exploded, failed, etc etc we would surely have heard. This must be going well, my opinion. News must come soon.
So 7p I can believe by the end of next week. The SP has momentum and the QFI following is growing by the day and the 7p is achievable on no news. But when it comes it will come thick and fast of that I have no doubt. And as I have always believed, sign one project and we will sign them all.
A ten bagger from here is a no brainier, beyond that is the icing on the cake.
Have a great Sunday.
GLA
We have Mir shares but allowing for inflation and the fact we now have four trials in play including BioMSAR we should now be at around 30p on speculation alone and the nearer we get to a positive result the price should get to around the £1.00 mark. Then a signed contract or two and this little baby could easily get to, well your guess is as good as mine but with the Maersk debacle haunting us we are where we are. What will put that to rest is the contract that we all believe will be signed with many more to follow.
Those that get in now, all being well, will make a tidy profit. We have a great many fun months ahead and with Covid also soon to be just a memory that has not helped us progress as we should have, the flood gates will open.
No news is good news. !!!
Those that bought at 2p or less are smiling big time but even the newcomers to QFI have done very well over the past few weeks and they are telling their friends of the profits made (on paper) and so the word spreads.
When solid news EVENTUALLY arrives I have no doubt the bounce will take us to at leat 20p plus, and that will be on just one positive result from the tests underway.
After that who knows where we will end up, but going back to that old chestnut of who will hold their nerve and not sell for what will be substantial profits for many.
So our big problem will be who will he left standing to attend the £1.00 party.
GLA
So lots of PR to get the word out there and no news will do it and it’s OK to be pedantic, I was going from memory and thought better to understate if I was wrong, don’t want to be seen as a ramper.
Let’s see if we get another great day ........
Glad your happy gaff11, and believe me if the SP keeps increasing daily at this rate as the potential of QFI gets recognised in the greater investing community, its like a ripple, good news travels, this could hit our first target of 10p with no news and when it comes the chart will go up in a straight line. The train is just leaving the station. Good to be on it........ What was it Kirk said, he was 90 % certain of success, hope he never regrets that. Didn’t look like a liar to me and Jason from memory 80% but he’s at the coalface. There will be a many more happy investors around soon.
Has to be a good day for the brave ........
Ha, I think I know the answer. Spoke to one of my business internet suppliers two days ago and believe it or not he lived in Utah. By the time I had told the QFI story and my relationship to Utah through QFI he was sold on the MSAR future. He obviously has put QFI on his social media feed.
Has to be the answer.
GLA
I broke even at 3.4 pence so every little rise buys a few pints down at the local.
88p which I feel in my bones is easily achievable, with what came out of the recent rise, would certainly make a big celebration the order of the day. Buying a successful company with such potential at such a low price as it is now is a once in a lifetime opportunity for all concerned.
Being a container ship I would imagine that the route is possibly transatlantic with refuelling as it passes Gibraltar with MSAR. Assuming the vessel has recently been in dry dock and would be running continuously with stops at each end to load and unload. At 13 knots. Assuming La Spezia in Italy to New York. That’s 14.4 days at sea for each leg. 345 hours. So roughly 150 days at sea. Ten loading and unloading stops, say four days each, often a vessel will sit outside of its destination port as no berths available, so 40 days there. Say five refuelling stops, maybe from a barge, 10 days. This could be done in La Spezia which could save 10 days and save MSC a fair bit.
So seven months from start of trial and a contract signed within a couple of months of that.
Morning Indi, enjoying the aft deck early I guess, another beautiful day here, but no rain for weeks so we have an impending drought - maybe!!!
But had the time this morning to read through a few days of postings and realised just how nothing has changed, same moaners, moaning, the same over invested being impatient, others that think they know how to run QFI, good luck to them, and to those good souls who are simply using the platform to enquire as to why all of the excitement exists over this share, well amongst us maybe, and those that provide the answers. But nothing has changed, no decent news, all we have are are few influencers on Twitter that have done more to ramp the share price that those sitting in the boardroom of late. Ramping I am sure for their own profit, but that is the way of the world. The same discussions, it amazes me as to how the same things can be said over and over again, as mentioned months ago in one of my posts, frustration. Several posters have a great sense of humour, love it, I guess over the months the projected share price has been predicted at anything between 10p and several pounds, I still believe in the latter prediction, but as the calendar of events slip, and slip, and slip, with of course the same old excuses, mostly Covid orientated, one has to wonder just what the BOD are playing at. They certainly are not very good at promoting this product outside of their own sphere of influence, the easy choice, but then again they have brought several good options to the table, but boy, talk about dragging feet and no decent news. We will over the next few months be drip fed a bit of news here, a bit there and the shares will hover around where they are now during that period. Not until the first contract is signed, anyone of the options will create an explosion in share value, the belief will be that the others will follow, what a few days of euphoria that will bring, globally I would guess as whoever signs claims to have just found this wonderful new product, but otherwise the top will just keep on spinning, round and round and round. The same posters will keep on posting, the same moaners moaning and the over invested, well they will still be losing sleep. Remember the share price and the product are not guaranteed to be winners, their are big, very big players in the oil space and QFI at the moment simply a molecule, so I am hopeful. I am happy, I am 10 grand richer than a few weeks back, but only if I cash in. As I head back into my shell for another few weeks of waiting I wish you all well, we will get there in the end but until then, the top will just keep on spinning, around and around and around.
Politics/Global Warming/Urgency/Cost/an Industry In Shame & more
It's not fuel, it's gunky oil extracted from the tar sand. It needs to go to QRF for them to process it through the MMU and formulate the additives
OK can you burn water, no, can you burn the additive, no so what burns is the thick gunky stuff you refer to, sounds to me that sounds like fuel, you seem to want to turn lead into gold, of course its fuel, maybe you should just check out how solid your brain is before you begin being rude to others. Or maybe it is just a load of gunk.......
Must be April 1st.
Not only that the reading of my post is quite simple, just for some reason it gets misunderstood. Posting on here is like herding cats. Maybe I went to the wrong school.
Mike and his crew now that delays are inevitable and they could have, I am sure done the testing in the USA, had they wanted I am sure one member or more of there team could be sitting in Utah now surrounded by engines, equipment etc and the magic mix, I was referring to was the 1% additive to water to create MSAR. I am sure they do not have a full on marine diesel sitting in HQ awaiting MSAR fuel, I May be wrong. But if that's what they need that could be sourced very quickly in the USA, even a cheap 2nd hand one, you can get anything you want in that amazing country and quickly. So what else do they need. Looking to see how the fuel from UTAH breaks down, I would have thought that would need to be looked at under some kind of a magnifying device and I am sure there are other small bits of kit needed. UTAH has been rolling along for months now if not longer and the hold ups caused by Covid have not completely caused the world of business to come to a standstill. Just look at what has happened in the Suez canal, hundreds of ships still moving and believe it or not thousands of planes still flying.
So get my points please and stop sitting in your living rooms finding fault with others that want to invest and post.
Maybe the wrong time of the month Tidetime, just looked back through some of your posts and you are not exactly some kind of genius.
All have a great Easter and try to keep smiling and I will try not to be quite so boring in the future......
Sorry for my thinking of such a short timeline, its this digital world that we live in. Mind you with what is stake one would have thought that all would be done very very quickly. What exactly are the tests. Anybody know or have thoughts. If simple, ie looking at the stuff under a microscope could that not be done in the USA. There must be tons of kit over there that could sort this for us. If they had been thinking ahead the magic mix could have been shipped out months ago. All seems a bit incompetent considering what's been going on in the world. Or maybe our boys want to stay at home.....