Frontline’s sale of five of its oldest VLCCs for $290m is a sign that tanker asset prices remain strong.
The move, first reported by TradeWinds on 9 January and confirmed by Frontline on Friday, pushed Fearnley Securities to bump up its valuations, with a VLCC resale estimated to be worth $5m more at $130m and a 15-year-old vessel standing pat at $55m.
