FRO trims fleet in 2024

After acquiring the 24 most modern Euronav (EURN) VLCCs, Frontline has opted to sell its 5 oldest VLCCs for $290M

Though some of the vessels have scrubbers, not a bad decision for FRO. With the proceeds from the deal, the company can reduce its leverage. Still want FRO to raise additional equity and reduce leverage ratios further.