Frontline agrees to terminate Front Leader charter
Created: Apr 07, 2011 01:00 AM (Updated: Apr 07, 2011 09:58 AM)
OSLO (Bloomberg) - Frontline Ltd. agreed with Ship Finance International Ltd to terminate the long-term charter party between the companies for OBO carrier Front Leader.Frontline will make a compensation payment to Ship Finance of about $7.7 million. The transaction will reduce the company’s obligations under capital leases with $10.2 million, Frontline said. Ship Finance has sold the vessel.