Frontline announced termination of charter-in contracts of two VLCCs

April 05 2022 Print This Article

Frontline Ltd. announced that Frontline Shipping Limited  has agreed with SFL Corporation Ltd. to terminate the long term charters for the 2004-built very large crude carriers  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.