Frontline confirms sale of six MR product tankers

john-fredriksen

Frontline confirmed it had sold six medium-range (MR) product tankers to an undisclosed third party for USD172.5 million, exactly the same as what Ardmore Shipping paid for six MRs it bought last week.

“We are pleased to have completed this transaction, which leaves Frontline with a focused crude oil tanker fleet comprising VLCCs, Suezmax tankers, and LR2 tankers,” Robert Hvide Macleod, CEO of Frontline Management, said in a statement. “Our primary exposure and growth focus is towards the crude tanker market, and our LR2 tankers can be deployed in both the crude oil and refined product trades, leaving us with attractive optionality.”

[fairplay]

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