Chairman Bjorn Tore Larsen of Arendals Dampskibsselskab (ADS) has denied reports that it has sold an aframax tanker.
The 107,000-dwt ADS Oslo (built 2003) was said to have gone to another Norwegian owner for a firm $11.7m.
“The reports are pure nonsense,” Larsen said.
ADS bought the ship as Pacific Leo from Japan’s Iino Marine for $21.8m in March 2014.
Robert Hvide Macleod, the chief executive of Frontline Management, was an investor in ADS Oslo, which was on time charter for two years to AET from February 2016 at $23,500 per day.
However, he sold his interest before taking the job with the Oslo and New York-listed shipowner.
