Press release from Frontline Ltd. July 27th, 2009
Ship Finance International Limited has sold the single hull VLCC Front Duchess to an unrelated third party.
Delivery to new owners is expected to take place in September/October 2009. Upon delivery of the vessel to the buyers, the long term charter party between Frontline and Ship Finance International Limited will be terminated, and the latter will make a compensation payment to Frontline of approximately $2.8 million for the early termination of the current charter party.
July 27th, 2009
The Board of Directors
Questions should be directed to:
Jens Martin Jensen: Chief Executive Officer, Frontline Management AS
+47 23 11 40 99
Inger M. Klemp: Chief Financial Officer, Frontline Management AS
+47 23 11 40 76