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Ship Finance International sells three VLCCs for $77.5m
John Fredriksen’s Ship Finance International (SFI) has sold three 1999-built VLCCs for $77.5m.
1 Min Read
Kalyakan - stock.adobe.com
The vessels, Front Opalia, Front Comanche and Front Commerce, were sold to an unrelated third party that SFI did not reveal the identity of.
Sister company Frontline has terminated charters on the vessels which will be delivered to their new owners in the fourth quarter of the year.
Divesting of older vessels is a part of the company's strategy to renew and diversify the fleet, and the proceeds is expected to be reinvested in other assets,” SFI said.
“Following this sale, the number of vessels on charter to Frontline will be reduced to 17 vessels, including 12 VLCCs and five suezmax crude oil carriers.”
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