Ship Finance International sells elderly VLCC

Ship Finance International sells elderly VLCC

John Fredriksen’s Ship Finance International has entered into an agreement to sell the 2001-built VLCC Front Ariake to an unrelated third party.

Delivery of the vessel is expected later this month, and the net sales price will be approximately $20.7m.

Ship Finance International said divesting of older vessels is part of the company’s strategy to continuously renew and diversify the fleet.

Following this transaction, the company has four VLCCs remaining on charter to a subsidiary of Frontline.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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