Bermuda: Frontline Sells Suezmax Tanker Front Alfa

Frontline Ltd. has entered into an agreement to sell its 1993-built double hull Suezmax tanker Front Alfa.

Delivery to the buyer is expected to take place in late March 2012 and the vessel will cease to operate in the tanker market.

All debt pertaining to the vessel, approximately $13 million, was prepaid in December 2011 and the company expects to record a loss of $1.5 million in relation to the transaction.