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Frontline Ltd (FRO.OL)

FRO.OL on Oslo Stock Exchange

54.20NOK
18 Oct 2018
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Latest Key Developments (Source: Significant Developments)

Frontline Q1 earnings beats forecast, 2018 fleet growth could be negative due to scrapping
Thursday, 31 May 2018 02:49am EDT 

May 31 (Reuters) - Crude oil tanker firm Frontline Ltd ::FRONTLINE Q1 NET LOSS $13.6 MILLION (REUTERS POLL LOSS $29.2 MILLION).FRONTLINE Q1 OPERATING PROFIT $2.8 MILLION (REUTERS POLL LOSS $13.3 MILLION).WHILE THERE ARE ENCOURAGING SIGNS THAT SEABORNE CRUDE VOLUMES MAY SOON INCREASE AS A RESULT OF CHANGES BY OPEC AND A SLOWING TREND OF INVENTORY DRAWS, MARKET IS NOT YET FACTORING IN UPSIDE POTENTIAL.FRONTLINE DECLARES NO QUARTERLY DIVIDEND.IF THE PACE OF SCRAPPING CONTINUES, THE GLOBAL VLCC FLEET WILL SEE NEGATIVE GROWTH IN 2018.THE SURGE IN SCRAPPING IS A POSITIVE FACTOR THAT WILL HELP TO REDUCE NET FLEET GROWTH, BUT IT WILL LIKELY TAKE SOME TIME BEFORE THE MARKET REBALANCES.FRONTLINE CEO: WHILE THERE ARE ENCOURAGING SIGNS THAT SEABORNE CRUDE VOLUMES MAY SOON INCREASE AS A RESULT OF CHANGES BY OPEC AND A SLOWING TREND OF INVENTORY DRAWS, THE MARKET IS NOT YET FACTORING IN UPSIDE POTENTIAL.SAYS THE MARKET IS APPROACHING THE END OF A CRUDE INVENTORY CYCLE AND THAT INVENTORIES WILL STABILIZE AND THEN BEGIN TO BUILD AGAIN, LEADING TO HIGHER FREIGHT RATES.  Full Article

CEO Macleod buys 110,000 Frontline shares at NOK 35.6
Tuesday, 27 Mar 2018 11:10am EDT 

March 28 (Reuters) - Frontline Ltd ::CEO in Frontline Management AS Robert Hvide Macleod has on March 27, 2018 purchased 110,000 shares in Frontline Ltd. at NOK 35.6486 per share. .Robert Hvide Macleod has after this 380,000 shares in Frontline Ltd. In addition Robert Hvide Macleod has 798,000 options in Frontline Ltd., as previously disclosed..  Full Article

Tanker firm Frontline posts larger-than-expected Q4 loss due impairments
Wednesday, 28 Feb 2018 02:30am EST 

Feb 28 (Reuters) - Tanker firm Frontline Ltd ::REG-FRO - FOURTH QUARTER AND FULL YEAR 2017 RESULTS.FRONTLINE Q4 NET RESULT $-‍248.4​ MILLION (REUTERS POLL LOSS $10.5 MILLION).‍SPOT RATES IN Q4 WERE WEAK, AS INVENTORY DRAWS IMPACTED A FREIGHT MARKET THAT WAS ALREADY SUFFERING FROM HIGH FLEET GROWTH​.‍NON-CASH IMPAIRMENT LOSSES OF $255.8 MILLION​.‍REPORTS NET INCOME ATTRIBUTABLE TO COMPANY ADJUSTED FOR CERTAIN NON-CASH ITEMS OF $5.0 MILLION​.‍HEADWIND FACTORS EXPERIENCED IN 2017 COULD TURN IN OUR FAVOUR POSSIBLY TOWARDS END OF YEAR​.‍WE HAVE A STRONG LIQUIDITY POSITION IN EXCESS OF $300 MILLION AS AT END OF DECEMBER 2017​.FRONTLINE Q4 OPERATING RESULTS $-230.3‍​ MILLION (REUTERS POLL LOSS $7.7 MILLION).IT WILL TAKE SOME TIME UNTIL THE CRUDE OIL TANKER MARKET HAS SUFFICIENTLY ABSORBED NEW SUPPLY OF VESSELS.WE BELIEVE THERE WILL BE OPPORTUNITIES GOING FORWARD AND HAVE THE FINANCIAL AND COMMERCIAL PLATFORM TO GROW OUR FLEET WHEN WE BELIEVE IT IS TO THE BENEFIT OF OUR SHAREHOLDERS.UNTIL THEN FRONTLINE IS SHARPLY FOCUSED ON MAINTAINING OUR COST-EFFICIENT OPERATIONS AND LOW BREAKEVEN LEVELS.THE BOARD HAS DECIDED NOT TO PAY A DIVIDEND FOR THE FOURTH QUARTER.AS OF DECEMBER 31, 2017, THE COMPANY’S NEWBUILDING PROGRAM WAS COMPRISED OF FOUR VLCCS AND ONE LR2/AFRAMAX TANKER.  Full Article

Frontline CEO calls for more M&A among oil tanker firms
Wednesday, 22 Nov 2017 09:33am EST 

Nov 22 (Reuters) - Frontline Ltd CEO Robert Hvide Macleod said during a call with analysts on Wednesday::Sees oil tanker market recovering in the second half of 2018, depending on the pace of old vessel scrapping.Oil tanker market needs more consolidation, the market is too fragmented now.  Full Article

Frontline expects near-term pressure on rates due to fleet growth
Wednesday, 22 Nov 2017 08:42am EST 

Nov 22 (Reuters) - Tanker firm Frontline Ltd : :Frontline expects near-term pressure on rates due to fleet growth.Tanker firm frontline says global year-to-date delivery of new vlccs (very large crude carriers) from yards to shipping firms stands at 44 units, ytd suezmax deliveries at 48 units.Frontline says global vessel delivery pace expected to slow towards the end of the year before picking up again in q1 2018.Frontline expects tanker industry's scrapping of old vessels to increase going forward as spot market remains especially challenging for older tonnage.  Full Article

BRIEF-Frontline Q3 net loss $24.1‍​ million
Wednesday, 22 Nov 2017 02:30am EST 

Adds missing word "million" in second bullet point; attaches story to alerts:Frontline q3 net loss $‍24.1​ million (reuters poll loss $26.2 million).Frontline q3 operating loss $‍​5.4 million (reuters poll loss $9.2 million).Says loss is primarily due to weak average spot daily time charter equivalent ("TCE") earnings achieved by its fleet and a $5.8 million loss on the termination of the charter of Front Ardenne..‍Says impact of significant fleet growth over last two years was felt across industry and is reflected in results for q3​.Due to the net loss attributable to the company in the third quarter, the board has decided not to pay a dividend for the third quarter. ‍​.Says we are at the bottom of the cycle, and this is reflected in rates and asset prices‍​.Says will continue to execute strategy of fleet growth and renewal.  Full Article

Frontline Q3 net loss $24.1‍​ million
Wednesday, 22 Nov 2017 02:30am EST 

Nov 22 (Reuters) - Frontline Ltd :Frontline q3 net loss $‍24.1​ million (reuters poll loss $26.2 million).Frontline q3 operating loss $‍​5.4 million (reuters poll loss $9.2).Says loss is primarily due to weak average spot daily time charter equivalent ("TCE") earnings achieved by its fleet and a $5.8 million loss on the termination of the charter of Front Ardenne..‍Says impact of significant fleet growth over last two years was felt across industry and is reflected in results for q3​.Due to the net loss attributable to the company in the third quarter, the board has decided not to pay a dividend for the third quarter. ‍​.Says we are at the bottom of the cycle, and this is reflected in rates and asset prices‍​.Says will continue to execute strategy of fleet growth and renewal.  Full Article

Frontline reports Q2 loss, says upcoming quarters challenging
Wednesday, 30 Aug 2017 02:30am EDT 

Aug 30 (Reuters) - Frontline Ltd :Q2 net result $-19.4 million (reuters poll $-17 million) primarily due to $7.8 million in dry docking expenses and a $12.2 million loss on the termination of two charters.Upcoming quarters may present challenges as vessel supply continues to increase.Q2 operating profit $-1.4 million (reuters poll $-0.6 million).We believe we are better positioned having not done any substantial acquisitions in first half of year.We expect attractive opportunities to emerge as a result of weak market and will remain opportunistic going forward.Net loss attributable to company adjusted for certain non-cash items of $14.2 million, or $0.08 per share, for q2.Says continue to take proactive steps to increase earnings potential of its fleet through ongoing renewal of our fleet and by pursuing an opportunistic approach in resale and newbuilding markets.Says remains focused on acquiring high-quality, modern vlccs at attractive prices, lowering average age for its fleet.Due to the net loss attributable to the company in the second quarter, the board has decided to pay no dividend for the second quarter.Frontline continues to believe that the market will begin to improve in 2018 as the pace of deliveries of newbuilding vessels slows and vessels are retired from the global fleet.  Full Article

DHT says Marshall Islands court dismisses Frontline legal action
Monday, 19 Jun 2017 04:00am EDT 

June 19 (Reuters) - Dht Holdings Inc :Says high court of Marshall Islands has dismissed, with prejudice, legal action filed by Frontline.Says Frontline is now precluded from bringing similar claims against DHT, its directors and BW Group in any other court.  Full Article

Oslo Bourse says Frontline and Seadrill go out of obx index , Golden Ocean and Nordic Nanovector in
Friday, 9 Jun 2017 02:15am EDT 

June 9 (Reuters) - Oslo Bourse says: :Frontline<<>> and Seadrill<<>> go out of OBX Index .OBX.Golden OceanGOGLT.OL<<>> and Nordic Nanovector<<>> go in .The changes have effect from June 16.The OBX index consists of the 25 most traded shares at Oslo Bourse.  Full Article

NORWEGIAN STOCKS-Bakkafrost leads salmon shares down after Q2 report

OSLO, Aug 21 (Reuters) - * Norwegian shares traded down on Tuesday * Oslo's benchmark index fell 0.11 pct, or 1.07 points, to 901.28 points and was up by 10.79 pct year-to-date * The broader Oslo All Share Index was down 0.08 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, rose $0.13 to $72.34 a barrel * Among the biggest firms on the Oslo Bourse, Equinor fell 0.93 pct, Telenor fell 0.12 pct and DNB rose 0.03 pct * Turnover at the Oslo Bourse was 897 million Norwegian cro