First Olsen Tankers has had to cancel the $88m sale of two aframax tankers which would have resulted in a $33.5m capital gain after the buyers defaulted.
The company, part of the Fred Olsen empire, had planned on the sale of the double-hulled 147,000-dwt Knock Clune and Knock Dun (built 1993 and 1994 respectively) going through by the beginning of July but the buyers, believed to be from Saudi Arabia, failed to come up with the 10% deposit in time.
The
