Source Pravda.Ru

Frontline Wins 100 Shipment BP Contract

Frontline, the world's biggest oil tanker company, has said that it has won a contract to transport crude oil for BP, the world's third largest publicly traded oil company.

The Bermuda shipping group, which is controlled by the Norwegian shipowner John Fredriksen, will have the exclusive right for BP shipments of two million barrels of oil, which are transported on Very Large Crude Carriers, or VLCCs. Frontline will also take over the operation of four of BP's VLCC supertankers.

“This will reduce the time that our ships go without cargo,” said Ola Lorentzon, the chief executive officer at Frontline, in an interview. “This will improve the efficiency of our ships which again will increase our profits.” He declined to comment on financial details.

Frontline mainly sails its tankers on single voyages in the spot market, making it vulnerable to sliding shipping rates. By signing contracts that secure more cargo, it will ensure its ships are not idle and will help to stabilize earnings, analysts have said. The BP accord will yield about a hundred cargos annually, Lorentzon said.

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Representatives of the North Korean administration issued a statement saying that the United States and its allies have lost the "political and military confrontation" to the DPRK

North Korea declares victory over USA

In recent years, genetics has become a cutting-edge science, not only in the professional field of biology, but also because of the enormous social reach of its discoveries and approaches. Not in vain, practically every day the press offers us the discovery of a new gene, a new hereditary determinant directly involved in the manifestation of diseases or physical characteristics.

The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
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