Frontline offloads its five oldest VLCCs

John Fredriksen’s Frontline has confirmed the disposal of its five oldest VLCCs. The New York-and Oslo-listed tanker giant will be shipping out the units built in 2009 and 2010, to an unnamed buyer during the first quarter of 2024. The deal worth $290m is expected to generate net cash proceeds of about $207m, with a …

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