John Fredriksen has shuffled a quartet of product tankers between two of his New York-listed shipowning vehicles.
Frontline announced on Monday that it had sold four scrubber-fitted LR2s to SFL Corp for $160m. Fredriksen holds a leading position in both companies through Hemen Holding.
SFL acquired the tankers against newly negotiated long-term time charters with trading giant Trafigura.
The minimum five-year terms with extension options add about $160m to SFL's fixed-rate backlog.
