ITC subsidiary Golden State Petroleum Corp said delivery of the tanker is expected to take place sometime in October 2014.
“After delivery it is expected that the vessel will cease to operate in the tanker market,” ITC said in a statement.
Earlier this month Yinson Holdings has confirmed that it was the buyer of a VLCC owned by Frontline affiliate ITC.
The Malaysian FPSO provider said the purchase was for its business expansion in the marine and offshore production sector.
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