Their long-term charters to sister company Frontline have also been terminated with effect from the fourth quarter.

The 1999-built VLCCs Front Opalia (302,000 dwt), Front Comanche and Front Commerce (both 300,000 dwt) have gone to an unconnected third party.

Frontline will pay SFI $58.8m in compensation for the charters.

Of this, $10.5m will be handed over when the deals end and the rest will be in the form of 7.25%