The company has fixed the 109,000-dwt Front Panther (built 2014) and Front Puma (built 2015) for a year at a reported firm rate of $25,000 per day from John Fredriksen’s Frontline 2012.

Oslo-based broker Fearnleys pegs the one-year rate for LR2s at $22,500 per day.

The duo are part of a newbuilding programme of 12 sisters at Guangzhou Shipyard International (GSI) in China that are all set for in-house management.