Bergesen Agrees to Sell Four Tankers To Frontline Consortium

Norwegian shipping group Bergesen said on Friday it had made an preliminary agreement to sell four tankers to a consortium led by tanker operator Frontline.

Bergesen said in a statement the deal, which included two tankers and contracts to build two new tankers, would give the company a profit of about $42 million.

The sales price of the two tankers was $164 million, while the new contracts had a total value of $157 million, it said.

The four tankers were part of a series of eight tanker projects that Bergesen acquired from the Hitachi yard in Japan in January 2000. The tankers, which have a deadweight of 296,000 tonnes, will be delivered to the consortium of partners of Tankers International led by Frontline in June or July 2001.