Frontline announces termination of charter-in contract of OBO carrier Frontline has agreed with Ship Finance International Ltd to terminate the long term charter party for the OBO carrier Front Driver and Ship Finance has simultaneously sold the vessel. The charter party is expected to terminate in late November 2012. Frontline will make a compensation payment to Ship Finance of approximately $0.5M for the early termination of the charter. The transaction will reduce the company's obligations under capital leases by approximately $1.1M and the company expects to record a loss of approximately $0.1M.
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