Frontline has sold its oldest Suezmax tanker, generating a net profit of $6 million and reinforcing its strategy of fleet restructuring and modernization.
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| Source: Frontline |
Frontline, one of the world’s leading crude oil tanker operators, has finalized the sale of its oldest Suezmax-class tanker, the Front Brage, securing an estimated $6 million net profit. The vessel was sold for $36.4 million, with net cash proceeds after debt repayment expected to reach around $23.7 million.
The Front Brage, a 156,500 DWT crude carrier, is scheduled for delivery to its new owner in the third quarter of 2025. While the buyer has not been officially disclosed, shipping brokers indicate that UAE-based Global Marine Services is the likely purchaser.
The move aligns with Frontline’s broader strategy of modernizing its fleet by phasing out older vessels while investing in newbuilds. With stricter IMO environmental regulations and mounting pressure to reduce carbon emissions, major tanker operators are increasingly offloading less fuel-efficient tonnage in favor of next-generation, eco-friendly vessels.
Industry observers note that this sale carries broader implications. “Frontline is simultaneously strengthening liquidity and preserving fleet competitiveness,” one broker commented. With the tanker market facing high volatility in freight rates, retaining aging ships exposes owners to rising operational costs and environmental compliance risks.
Frontline is expected to continue balancing divestments of older units with acquisitions of modern VLCCs and Suezmaxes, reinforcing its long-term position in the global oil transportation market.