Ship Finance International continues to clear out its oldest tankers.
It has confirmed the sale of the 308,000-dwt Front Falcon (built 2002), bringing in proceeds of $30.7m.
The figure likely includes additional cash related to termination of the charter by sister company Frontline. Valuations services VesselsValue and Maritime Strategies International put the likely market sale price of the vessel at between $21m and $25.2m.
The deal comes just two weeks after the John Fredriksen-led company confirmed the sale of the Front Ariake (built 2001) for $20.7m,
Both ships were bought by unnamed, unrelated third parties.
The company said the sales are part of a strategy to renew its fleet.
The move leaves Ship Finance International with three VLCCs — two built in 2004 and one in 2002 — all on charter with a subsidiary of sister company Frontline.
Its remaining six tankers, from product tankers to suezmaxes, are all 10 years old or less.
The Fredriksen system said earlier this year it was looking to find a new home for eight older tankers.
Three have since been bought by ADS Crude Carriers, in which Ship Finance is a shareholder.
While it has been selling tankers Ship Finance has been building up its container fleet with a series of major transactions since fellow Fredriksen company Seadrill exited Chapter 11.
Eric Martin contributed to this article
