Frontline sells four vessels to Fredriksen's shipowner

Tanker operator Frontline has sold four tankers to shipping magnate John Fredriksen's shipowner, SFL Corp. The Fredriksen-controlled carrier thereby increases its liquidity for forthcoming newbuilds, analyst says.

Photo: Frontline

John Fredriksen-controlled tanker operator Frontline sells four tankers to shipowner SFL, which the Norwegian-Cypriot shipping magnate is also behind.

The four tankers, type LR2, are being sold for a total price of USD 160 million and will generate USD 67 million for Frontline once all outstanding debt is repaid, according to a statement.

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