Frontline Extends Options for Trafigura’s Two Suezmaxes

first_imgJohn Fredriksen’s Frontline and a subsidiary of Trafigura have reached an agreement to extend the option related to the acquisition of two Suezmax tankers.Under the deal reached in August, Frontline was to take over ten 2019-built Suezmax tankers, fitted with exhaust gas cleaning systems, with two separate options to acquire two plus two additional Suezmax tankers from Trafigura Maritime Logistics.The first option for the Suezmax duo expired on September 12, therefore, the parties agreed to extend the expiry date for the option to September 18.The second option, with a deadline of September 24, would expire if the first option is not validly exercised.Frontline earlier said that the transaction was expected to close between mid-November 2019 and mid-March 2020. Until then, the company would time charter all the units at a daily rate of around USD 23,000 in order to obtain earlier exposure.last_img read more

ICSS ‘integrity hotline’ gives snapshot of global reach of sports corruption

first_img StumbleUpon GLMS identifies 198 suspicious betting instances in Q1 June 6, 2019 Submit GLMS call for ratification of Macolin Convention at CoE hearing October 2, 2019 Share Related Articles Integrity task force concludes with no cases of manipulation August 8, 2019 Share Publishing its first report, the International Centre for Sports Security’s (ICSS) ‘Sports Integrity Hotline (SI Hotline)’ reveals that it has received more than 240 incidents of corruption, reporting allegations of match-fixing, fraud and sexual abuse.ICSS established its hotline in 2018, providing athletes and sports stakeholders a ‘secure whistleblower platform’ for reporting sports misconducts.In its first report, the SI hotline details football as its most impacted sport ‘affected by allegations with 87% of the reported cases’. Further sports affected by allegations include; tennis, handball and athletics.Match-fixing (23%) is cited as the most frequently reported type of allegations, followed by money-laundering (12%) and internal corruption (10%).The ICSS report details a diverse geographical range of where sports criminal activity is being reported including the Middle East, Europe and North Africa.“The SI Hotline has demonstrated, in a relatively short period of time, the requirement for this service has been acknowledged by international policymakers, governments and sports institutions. The SI Hotline is seen as a vital tool to help protect those who most need it and to encourage people to come forward to preserve the integrity of sport” – the ICSS details in its statementAll SI Hotline claims are submitted to the Sport Integrity Unit (SIU), who analyse information, verifying the authenticity of the allegations.The SIU is led by sports criminality experts Dale Sheehan and Fred Lord, former senior officers in the law enforcement agencies INTERPOL and Royal Canadian Mounted Police.The ICSS closes its statement detailing that it will move to significantly expand the IS Hotlines capabilities helping the SIU integrity frameworks, by providing ‘world’s largest independent, cross-sport anti-corruption intelligence databases’.last_img read more