Profile: Frontline Ltd (FRO.N)
26 Jun 2017
Frontline Ltd., incorporated on June 12, 1992, is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. The Company operates through the tankers segment. The tankers segment includes crude oil tankers and product tankers. The Company operates through subsidiaries and partnerships located in Bermuda, India, the Philippines, Liberia, Norway, the United Kingdom and Singapore. It is also involved in the charter, purchase and sale of vessels. As of December 31, 2016, the Company's fleet consisted of 56 vessels, with an aggregate capacity of approximately 11 million deadweight ton (dwt). As of December 31, 2016, the Company's fleet consisted of 28 vessels owned by the Company (seven very large crude carriers (VLCCs), 10 Suezmax tankers and 11 Aframax/LR2 tankers); 13 vessels that are under capital leases (11 VLCCs and two Suezmax tankers); one VLCC that is recorded as an investment in finance lease; four vessels chartered-in for periods of 12 months, including extension options (two VLCCs and two Suezmax tankers); two VLCCs where the cost/revenue is split equally with a third party (of which one is chartered-in by the Company and one by a third party); three medium range (MR) product tankers that are chartered-in on short term time charters with a remaining duration of less than two months, and five vessels that are under the Company's commercial management (two Suezmax tankers and three Aframax oil tankers). As of December 31, 2016, the Company had 16 new buildings under construction, consisting of three VLCCs, six Suezmax tankers and seven Aframax/LR2 tankers.
The Company owns various vessel owning and operating subsidiaries. Its operations take place outside of the United States. Its VLCCs are designed for the transportation of crude oil and, due to their size, are primarily used to transport crude oil from the Middle East Gulf to the Far East, Northern Europe, the Caribbean and the Louisiana Offshore Oil Port (LOOP).
Par-La-Ville Place, 14 Par-La-Vi
HAMILTON HM 08
Company Web Links
- Tanker firm Frontline drops DHT pursuit and steers away from deals
- UPDATE 2-Tanker firm Frontline drops DHT pursuit and steers away from deals
- Tanker firm Frontline says no longer pursuing DHT or other acquisitions
- Marshall Islands court dismisses Frontline's attempt to stop DHT-BW Group deal
- Tanker firm Frontline expects rise in storage of oil on vessels