- (PLX AI) – Frontline will sell four of its scrubber fitted LR2 tankers for $160 million to SFL Tanker Holding Ltd.
- • The vessels are expected to be delivered to the new owners during the fourth quarter of 2021 and the first quarter of 2022
- • After repayment of existing debt on the vessels, the transaction is expected to generate net cash proceeds of approximately $67.0 million, and the Company expects to record a total gain divided between the fourth quarter of 2021 and the first quarter of 2022 of approximately $11.2 million