Symbiotic Relationship

Watching the interrelationship between Ship Finance and Frontline is always interesting, particularly when it comes to the disposal of vessels. Earlier this month, Ship Finance agreed to sell the 1998 built VLCC Front Vista to a subsidiary of Frontline for $58 million. After the repayment of the associated debt, Ship Finance will receive net proceeds of $22.1 million and will record a book gain of $1.8 million. While not an exciting deal from Ship Finance’s perspective, it does lock in a gain and eliminates any residual risk.

This is only an excerpt of Symbiotic Relationship

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.