Frontline Ltd., the oil tanker operator led by Norway-born billionaire John Fredriksen, said it’s looking to sell three more 1990s-built ships as the company modernizes its fleet while earnings plunge, Bloomberg reports.

The Front Alfa, Front Beta and Front Delta, all built in 1992 or 1993 and capable of hauling 1 million barrels of crude, are on the market, Jens Martin Jensen, Singapore-based chief executive officer of the company’s management unit, said by phone today. Hamilton, Bermuda-based Frontline said Oct. 31 that it agreed to sell the Front Hunter, another suezmax-class vessel that was built in 1996, to VTN Shipping Group, at a loss of $29.6 million. The company said on Oct. 20 it would lose $36.3 million on the sale of the Front Fighter and the Front Striver, built in 1994 and 1992 respectively.