Ship Finance International Limited, today announced the agreement to sell its two remaining suezmax tankers with double sides but only single bottom.
Front Birch and Front Maple (both vessels built in 1991) are sold to unrelated third parties, and deliveries to the new owners are expected to take place in December and January. Net sales price is agreed to $80.0 million for the two vessels, and Ship Finance will receive a net amount of approximately $47.2 million, after compensation of approximately $32.8 million to Frontline for the termination of the current charters on the two vessels.