Oslo-listed Frontline has confirmed its first tanker sales for seven years as asset values outstrip strong earnings.
The John Fredriksen company said it will make a combined profit of $10m from offloading the 321,000-dwt VLCC Front Eminence and $2m from the 156,000-dwt scrubber-fitted suezmax Front Balder (both built 2009).
The VLCC went to Malaysia’s Yinson for $61m and the suezmax to an unnamed owner for $39.5m.
