FRO - Termination of Charter-in Contracts of Two VLCCs

Source: www.gulfoilandgas.com 4/1/2022, Location: South America

Frontline Ltd. (“Frontline” or the “Company”) announced that Frontline Shipping Limited (“FSL”) has agreed with SFL Corporation Ltd. (“SFL”) 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 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.


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