Ship Finance International continues to offload its aging VLCC fleet with the disposal of its oldest tanker.
The US-listed ship leasing company said it has sold the 300,000-dwt Front Ariake (built 2001) to an unrelated third party for $20.7m.
However, the John Fredriksen-backed vehicle said it expected to record an impairment on the sale of the vessel based on its book value of $27.6m.
