Singapore's BW Offshore is selling an old floating production storage and offloading (FPSO) vessel to free cash.

The Oslo-listed company said the 97,000-dwt BW Joko Tole (built 1988) is being acquired by Indonesian buyers Bahari Inti Tanker and Cahaya Haluan Pasifik.

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They are working in a consortium with publicly listed shipowner Buana Lintas Lautan (BULL).