Windsor Petroleum Transport (Windsor) has been forced to find a new buyer for a Frontline-managed VLCC following the collapse of a preliminary sale-and-purchase contract.

The British Pioneer.
The Bermuda-based bond affiliate of John Fredriksen’s Independent Tankers Corp (ITC) says a memorandum of agreement (MOA) for the sale of the 306,000-dwt British Pioneer (built 1999), which was contingent on the successful completion of a third-party charter contract, has been terminated by the counterparty because it failed to secure employment.

In