Bermuda-based Frontline Ltd. has announced a contract with Jiangsu Rongsheng Heavy Industries Co., Ltd. for the delivery of two 156,900 deadweight tonnage Suezmax newbuildings. The vessels are expected to be delivered in February and May 2013.

Frontline, the world's biggest operator of supertankers, has also secured options for two similar Suezmax newbuildings. The contract price for the newbuildings is 15 to 20 percent lower than indicated price levels for 2010 delivered tonnage.

Last month, Frontline received notices from the owners of the two chartered-in 2001-built Suezmax tankers, Front Melody and Front Symphony, and the two chartered-in 2000-built tankers, Front Tina and Front Commodore, to exercise their option to extend the charter period for two years to the end of 2013 from the expiry of the mandatory lease period at the end of 2011.

The company also announced that it took delivery of three new tankers last month. They include the 2009-built Front Eminence and Front Endurance, as well as the Front Cecilie.