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FRO - Termination of Charter-in Contract of Suezmax Tanker

FRO - Termination of Charter-in Contract of Suezmax Tanker 
HAMILTON, BERMUDA -- (Marketwire) -- 02/07/13 --  Frontline Ltd.
("Frontline" or the "Company") has agreed with Ship Finance
International Limited ("Ship Finance") to terminate the long term
charter party
for the Suezmax tanker Front Pride and Ship Finance has
simultaneously sold the
vessel. The charter party is expected to
terminate in late February 2013. Frontline will make a compensation
payment to Ship Finance of approximately $2.1
million for the early
termination of the charter. The transaction will reduce
the Company's
obligations under capital leases by approximately $5.1 million and
the Company expects to record a loss of approximately $4.7 million. 


 
February 7, 2013
The Board of Directors
Frontline Ltd.
Hamilton, Bermuda

 
FORWARD LOOKING STATEMENTS 
Matters  discussed in  this document  may constitute forward-looking
statements.
 The  Private  Securities  Litigation  Reform  Act  of
1995 provides safe harbor
protections  for forward-looking statements
 in order to  encourage companies to provide   prospective  
information   about   their  business.   Forward- looking
statements 
include statements concerning  plans, objectives, goals,
strategies,
future  events or performance, and  underlying
assumptions and other statements,
which are other than statements of
historical facts. 
Frontline desires to take advantage of the safe harbor provisions of
the Private
Securities  Litigation  Reform  Act  of  1995 and  is 
including this cautionary
statement  in connection with this safe
harbor legislation. The words "believe,"
"anticipate," "intends,"
"estimate," "forecast," "project," "plan," "potential,"
"will," 
"may," "should,"  "expect" "pending"  and similar  expressions
identify
forward-looking statements. 
The   forward-looking  statements  in  this  document  are  based 
upon various
assumptions,  many  of  which  are  based,  in  turn, 
upon further assumptions,
including  without limitation, management's
 examination of historical operating
trends,  data contained  in
Frontline's  records and  other data  available from
third   parties.
  Although  Frontline  believes  that  these  assumptions
were
reasonable  when  made,  because  these  assumptions  are 
inherently subject to significant uncertainties and contingencies
which are difficult or impossible to predict and are beyond
Frontline's control, you cannot be assured that Frontline
will
achieve or accomplish these expectations, beliefs or projections.
Frontline
undertakes  no  duty  to  update  any  forward-looking 
statement to conform the statement to actual results or changes in
expectations. 
Important  factors  that,  in  Frontline's  view,  could cause actual
results to differ  materially  from  those  discussed  in  the 
forward-looking statements
include,  without limitation:  the strength
 of world  economies and currencies,
general  market  conditions, 
including  fluctuations  in  charterhire rates and vessel values,
changes in demand in the tanker market, including but not limited
to 
changes in OPEC's petroleum production levels and world wide oil
consumption
and storage, changes in Frontline's operating expenses,
including bunker prices,
drydocking and insurance costs, the market
for Frontline's vessels, availability
of financing and refinancing,
ability to comply with covenants in such financing
arrangements, 
failure of counterparties  to fully perform  their contracts with
us,
changes in governmental rules and regulations or actions taken by
regulatory
authorities,  potential  liability  from  pending  or
future litigation, general
domestic   and  international  political 
conditions,  potential disruption  of shipping  routes  due  to 
accidents  or  political  events,  vessel breakdowns,
instances  of 
off-hire  and  other  important  factors.   For  a  more
complete
discussion   of   these  and  other  risks  and 
uncertainties  associated with
Frontline's  business, please refer 
to Frontline's filings  with the Securities
and  Exchange Commission,
 including, but  not limited  to, its annual report on Form 20-F. 
This information is subject of the disclosure requirements pursuant
to section
5-12 of the Norwegian Securities Trading Act. 
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and    
other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and     
originality of the information contained therein. 
Source: Frontline Ltd. via Thomson Reuters ONE [HUG#1676471] 
Questions should be directed to:
Jens Martin Jensen
Chief Executive Officer
Frontline Management AS
+47 23 11 40 00 
Inger M. Klemp
Chief Financial Officer
Frontline Management AS
+47 23 11 40 00
 
 
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