Andreas Sohmen-Pao’s BW Offshore has closed the sale of a vintage floating production storage and offloading (FPSO) vessel.

The Oslo-listed company announced on Friday that it had put to bed a deal selling the 97,000-dwt BW Joko Tole (built 1988) to its new Indonesian owners, Bahari Inti Tanker, Cahaya Haluan Pasifik and Buana Lintas Lautan.

The transaction was first announced in January and was described as a move to free up more than $50m in liquidity, with $42.5m