Tanker shipping company Frontline announced Friday that it has agreed with shipowner SFL Corporation to terminate the long term charters for the 2004-built very large crude carriers (VLCCs) Front Force and Front Energy upon the sale and delivery of the vessels by SFL to an unrelated third party.

Frontline said it has agreed to a total compensation payment to SFL of approximately $4.5 million for the termination of the current charters.

The charters with SFL are expected to terminate in the second quarter of 2022.

This post appeared first on MarineLink News.

Comments are closed.