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Frontline says traders asking about oil storage options

Aug. 26, 2015 3:42 PM ETFrontline plc (FRO) StockFROBy: Carl Surran, SA News Editor4 Comments
  • Frontline (FRO +7.5%) pushes higher following mixed Q2 results, after CEO Robert Hvide Macleod said in today's earnings conference call that the tanker company is being asked about options to store crude oil at sea.
  • "There is a lot of people out there looking for storage options," the CEO said. “It could be one of the factors that helps bring this market back up."
  • FRO also says it is seeing a growing trend for “forced storage” this year, where companies are asking its ships to wait for as many as 20 days while buyers are identified for cargoes.

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