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