John Fredriksen's Ship Finance International Limited (SFL), which boasts a US$4.3bn portfolio of maritime and offshore assets, has agreed to sell a VLCC tanker to Chinese firm Kunlun Shipping.

The 1998-built Front Century has fetched a selling price of US$18.7m from Kunlun Shipping, a subsidiary of Shanghai-based Kunlun Holdings.

It is the second large tanker sold by SFL this year, following May's sale of Front Vanguard for around US$24m.