• 2018 June 28 17:23

  Frontline enters into MOA to acquire a 20% ownership interest in Feen Marine Scrubbers

  

  Frontline Ltd. has entered into memorandum of agreement (“MOA”) to acquire a 20% ownership interest in Feen Marine Scrubbers Inc., a leading manufacturer of exhaust gas cleaning systems (“FMSI”), the company said in its press release. Pursuant to the MOA, Frontline and certain entities affiliated with Hemen Holding Ltd, Frontline’s largest shareholder, have agreed to order FMSI exhaust gas cleaning systems for 14 vessels, with options to order an additional 22 systems at fixed prices.

  Bjørnar Feen, Founder of Feen Marine Scrubbers Inc., said: “We are extremely pleased to establish a partnership with Frontline, one of the world’s most prominent shipping companies. We believe that this memorandum of agreement is indicative of both Frontline’s industry-leading approach to managing its fleet as well as the high quality EGCS systems Feen Marine produces. We are proud that some of the world’s largest shipping and trading companies, including Frontline, Navig8 Group and Trafigura have chosen Feen Marine as their main provider of EGCS systems.”

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2024 October 29

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