Frontline Plc
OSE:FRO
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Frontline Plc
Frontline Plc is an international shipping company, which engages in the ownership and operation of oil and product tankers. The firm's main focus is on seaborne transportation of crude oil and refined products. The firm owns and operates a fleet consisting of multiple VLCC, Suezmax and LR2 / Aframax tankers intended for freight of oil and cargo. The firm operates worldwide.
Frontline Plc is an international shipping company, which engages in the ownership and operation of oil and product tankers. The firm's main focus is on seaborne transportation of crude oil and refined products. The firm owns and operates a fleet consisting of multiple VLCC, Suezmax and LR2 / Aframax tankers intended for freight of oil and cargo. The firm operates worldwide.
Profitability: Frontline reported Q3 profit of $40.3 million ($0.18 per share), with adjusted profit of $42.5 million ($0.19 per share), down sharply from the previous quarter.
Cash Position: The company has strong liquidity, ending Q3 with $819 million in cash and equivalents, and no significant debt maturities until 2030.
TCE Rates & Outlook: Q3 TCE rates were $34,300/day (VLCC), $35,100/day (Suezmax), and $31,400/day (LR2); 75% of Q4 VLCC days are already booked at a much higher $83,300/day.
Fleet & Costs: Frontline’s fleet is young (average 7 years), fully eco, with 56% scrubber-fitted, and average cash breakeven rates dropped by $1,300/day for the next 12 months.
Market Environment: Management highlighted a "bull market" for tankers, driven by high oil in transit, stronger compliant crude demand, and tight tanker supply.
Shareholder Returns: Frontline reiterated its commitment to robust dividends and sees potential for outsized shareholder returns, boosted by strong cash generation.
