FRO
Frontline Ltd.NYSE
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  • Yesterday, 7:59 AM
    • Shipping companies who move oil could be one set of losers following OPEC's deal to cut production for the first time in eight years.
    • "Shipping is a volume game, so higher OPEC production has supported the tanker rates over the past few years," according to Rahul Kapoor, director of Drewry Financial Research Services."We don't have the numbers yet... but if all were to come true in terms of cuts, this would be negative for the market."
    • Related tickers: DHT, EURN, FRO, GASS, GLNG, GNRT, NAT, NAP, SFL, TGP, TK, TNK, TNP, TOPS
    | Yesterday, 7:59 AM | 54 Comments
  • Tue, Nov. 29, 3:30 AM
    • Frontline (NYSE:FRO): Q3 EPS of $0.11 beats by $0.01.
    • Revenue of $157.16M (+46.2% Y/Y) beats by $26.36M.
    • Press Release
    | Tue, Nov. 29, 3:30 AM | 75 Comments
  • Wed, Oct. 19, 11:42 AM
    • Oil tanker rates have jumped to a four month high as traders booked the most-ever cargoes for this time of year, offering signs that Middle East producers could be adding barrels to the market just before OPEC cuts.
    • Traders booked 141 spot cargoes for the month of October, the highest in at least 12 years, and dayrates on shipments from the Middle East to Asia jumped to nearly $46,900 while a surplus of crude tankers in the Persian Gulf matched the lowest level in a year, Bloomberg reports.
    • Relevant tickers include FRO, NAT, TNP, TK, NNA, DHT, GNRT, STNG, GNR, NAP.
    | Wed, Oct. 19, 11:42 AM | 37 Comments
  • Fri, Oct. 14, 7:31 AM
    • Frontline (NYSE:FRO) today announced that it has entered into an agreement with STX Offshore to terminate contracts for four VLCC newbuildings due for delivery in 2017. The contracted price of these vessels was $364.3M, of which the company has made installment payments of $45.5M.
    • Following the contract terminations, the Company has been released of any and all obligations relating to the contracts, and received all installment payments made to STX, less a $0.5 million cancellation fee per vessel.
    • "The Company believes the market will continue to present attractive opportunities, and we will assess on-the-water and resale assets, which are at historically low prices. Frontline's low cash breakeven levels, and access to attractively priced capital, gives the Company significant operating leverage and positions Frontline to take advantage of price dislocations in the market."
    • Following the terminations, Frontline's fleet consists of 73 vessels, including newbuildings, with an aggregate capacity of approximately 13.5 million dwt.  The Company's fleet is comprised of 25 VLCCs, 22 Suezmax tankers, 22 LR2/aframax tankers and one MR. In addition, we have three MR tankers chartered in on short term contracts.
    • Source: Press Release
    | Fri, Oct. 14, 7:31 AM | 13 Comments
  • Thu, Oct. 6, 9:14 AM
    | Thu, Oct. 6, 9:14 AM | 3 Comments
  • Thu, Sep. 8, 7:29 AM
    • Frontline (NYSE:FRO) had declared $0.20/share quarterly dividend, -50% decrease from prior dividend of $0.40.
    • Payable Sept. 19; for shareholders of record Sept. 12; ex-div Sept. 8.
    | Thu, Sep. 8, 7:29 AM | 23 Comments
  • Wed, Aug. 31, 9:15 AM
    | Wed, Aug. 31, 9:15 AM | 1 Comment
  • Wed, Aug. 31, 5:00 AM
    • Frontline (NYSE:FRO): Q2 EPS of $0.31 beats by $0.04.
    • Revenue of $191.76M (+84.5% Y/Y) beats by $41.96M.
    • Shares -5.5% PM.
    • Press Release
    | Wed, Aug. 31, 5:00 AM | 60 Comments
  • Mon, Jun. 13, 7:45 AM
    • Frontline (NYSE:FRO) announces it entered into an agreement to sell six medium range tankers for a total of $172.5M to an unaffiliated third party.
    • The vessels will be delivered by Frontline during September and October of this year.
    • The transaction takes the size of Frontline's fleet down to 79 vessels with an aggregate capacity of approximately 15.3M dwt.
    | Mon, Jun. 13, 7:45 AM | 8 Comments
  • Thu, Jun. 2, 5:38 PM
    • Frontline (NYSE:FRO) finished 4% higher in today's trade after announcing a new joint venture with shipping peers Euronav (NYSE:EURN) and privately-held Diamond S Management.
    • The companies say the aim of the Suezmax Chartering JV is to create a single point of contact for cargo owners to access a large fleet of tankers in the spot market.
    • In the venture, cargo owners will be able to access 43 Suezmax-size vessels in the fleet; FRO says it will contribute 22 vessels, including eight newbuilds as they are delivered.
    | Thu, Jun. 2, 5:38 PM | 8 Comments
  • Tue, May 31, 1:56 PM
    • Frontline (NYSE:FRO) declares $0.40/share quarterly dividend, 14.3% increase from prior dividend of $0.35.
    • Forward yield 18.12%
    • Payable June 20; for shareholders of record June 13; ex-div June 9.
    | Tue, May 31, 1:56 PM | 16 Comments
  • Tue, May 31, 1:38 PM
    • Frontline (FRO +8.5%) rallies after the company topped revenue expectations with its Q1 report by a wide margin ($227M vs. $187M consensus).
    • The company also pointed to firming tanker rates and said it will stick to its dividend policy.
    • The strong read from Frontline is giving a lift to the broad sector with Ship Finance International (SFL +2.9%), DHT Holdings (DHT +1.5%), Teekay Tankers (TNK +1.3%), and Gener8 Maritime (GNRT +5.5%) all showing gains.
    | Tue, May 31, 1:38 PM | 23 Comments
  • Tue, May 31, 5:54 AM
    • Frontline (NYSE:FRO): Q1 EPS of $0.50
    • Revenue of $227.1M (+142.8% Y/Y)
    | Tue, May 31, 5:54 AM | 15 Comments
  • Mon, Feb. 29, 1:02 PM
    | Mon, Feb. 29, 1:02 PM | 2 Comments
  • Mon, Feb. 29, 5:37 AM
    • Frontline (NYSE:FRO): Q4 Net Income of $58.6M.
    • Revenue of $154.02M (+102.5% Y/Y) misses by $38.2M.
    | Mon, Feb. 29, 5:37 AM | 2 Comments
  • Sun, Feb. 28, 5:30 PM
    | Sun, Feb. 28, 5:30 PM | 11 Comments