Frontline is jettisoning two ageing VLCCs chartered from a fellow John Fredriksen company so the ships can be sold.
The New York-listed tanker owner announced on Friday that it agreed to tear up deals for the 305,000-dwt Front Energy and Front Force (both built 2004), which the company had chartered in from SFL Corp.
The charters will end “upon the sale and delivery of the vessels by SFL to an unrelated third party” and Frontline will pay SFL $4.5m.
