Seeking Alpha

Frontline Ltd. (FRO)

  • Thu, Jun. 18, 10:21 AM
    • Shipping stocks are active on a sustained jump in the Dry Baltic Index.
    • The index is up 6.5% on the day and has now rallied over 25% since late May.
    • Prices for the Cape, Panamax, and Supramax categories of vessels are all higher.
    • Stocks on the move include Diana Shipping (DSX +4.5%), Golden Ocean Group (GOGL +4.1%), DryShips (DRYS +2.5%), Frontline (FRO +1.9%), Navios Maritime Holdings (NM +2.2%), Star Bulk Carriers (SBLK +1.9%), Matson (MATX +2.1%), Euronav (EURN +1.4%), Navios Maritume Acquisition (NNA +2.6%), Nordic American Tankers (NAT +1.1%).
    | Thu, Jun. 18, 10:21 AM | 17 Comments
  • Thu, Jun. 11, 4:58 PM
    • Frontline (NYSE:FRO) -1.8% AH after filing for a $100M mixed securities shelf offering and a 55M ordinary share offering by selling shareholders.
    • FRO will receive no proceeds from the sale of securities by any selling shareholders.
    | Thu, Jun. 11, 4:58 PM | 19 Comments
  • Mon, Jun. 1, 10:32 AM
    • Evercore ISI takes off its sell signal on Frontline (FRO +5.6%).
    • The investment firm moves to a Hold rating and lifts its price target to $3 from $2.
    | Mon, Jun. 1, 10:32 AM | 2 Comments
  • Fri, May 29, 6:18 PM
    • Ship Finance International (NYSE:SFL) surged 6.6% in today's trade after amending its long-term charter agreement with Frontline (NYSE:FRO), whose shares plunged 15.7%.
    • FRO says the renegotiated relationship strengths its balance sheet, but the market reacted as if it was a one-sided deal in favor of SFL, which boosted its share of profits generated by the partnership, reduced its long-term base rates, and received 55M FRO shares to gain a 27.7% stake in the company.
    • Otherwise, FRO reported Q1 earnings that easily beat expectations.
    | Fri, May 29, 6:18 PM | 20 Comments
  • Fri, May 29, 12:46 PM
    | Fri, May 29, 12:46 PM | 2 Comments
  • Fri, May 29, 9:14 AM
    | Fri, May 29, 9:14 AM | 5 Comments
  • Fri, May 29, 6:51 AM
    • Frontline (NYSE:FRO) reports it earned an average daily time charter equivalent of $49K per for VLCC tankers and $33.1K for Suezmax tankers in Q1.
    • Operating expenses were flatcompared to the previous quarter.
    • Fleet count: VLCC +4 to 624, Suezmax +5 to 455.
    • Guidance: Frontline expects Q2 revenue to be in-line with Q1. Dry docking of four vessels will contribute to a lower operating result in the next quarter.
    • Previously: Frontline beats by $0.09, beats on revenue
    | Fri, May 29, 6:51 AM | 7 Comments
  • Fri, May 29, 5:56 AM
    • Frontline (NYSE:FRO): Q1 EPS of $0.25 beats by $0.09.
    • Revenue of $101.14M (+13.3% Y/Y) beats by $0.13M.
    • Press Release
    | Fri, May 29, 5:56 AM | 13 Comments
  • Thu, May 28, 5:30 PM
  • Thu, May 28, 11:15 AM
    • Despite crude oil’s rebound from six-year lows, the tanker market is sending a clear signal that the rally is under threat, according to a Bloomberg analysis.
    • A surge in demand for supertankers drove benchmark charter rates 57% higher in the two weeks through May 20; OPEC will have almost 500M barrels of oil in transit to buyers at the start of June, the most this year, while analysts say ~20M barrels is being stored on ships in another indication the supply glut has yet to dissipate.
    • Daily rates for supertankers on the industry’s benchmark route reached $83,412 on May 20, from $52,987 on May 6, according to the Baltic Exchange; while rates have since retreated to $65,784, they are still the highest for this time of year since at least 2008.
    • "There still seems to be a lot of physical activity, a lot of oil on the water," says the head of research at Hartland Shipping in London; while Q2 is usually quieter as refineries switch to summer fuels for the Northern Hemisphere, “the market is still busy and rates are incredibly high.”
    • Relevant tickers: FRO, TK, TNK, TOO, TGP, TNP, GLNG, STNG, NAT, DHT, EURN
    | Thu, May 28, 11:15 AM | 12 Comments
  • Wed, May 27, 11:18 AM
    • Frontline (FRO +6.1%) is sharply higher after Morgan Stanley upgrades shares to Equal Weight from Underweight with a $3 price target, saying FRO's liabilities are finally manageable after five difficult years and allowing shareholders to benefit from the thriving tanker market.
    • Stanley sees additional growth ahead in the sea-borne crude supply as increasing Libyan and Iranian oil supply reaches the market, while fleet supply growth is likely to be muted until year-end 2015; as a result, the firm expect FRO's spot and highly levered fleet to be positioned to generate significant profits this year.
    • Having restructured its liabilities over the past three years, FRO's financial risks are easily manageable going forward, the firm believes.
    | Wed, May 27, 11:18 AM | 5 Comments
  • Fri, May 22, 9:16 AM
    | Fri, May 22, 9:16 AM | 10 Comments
  • Fri, May 15, 2:59 PM
    • Rates for the world’s biggest oil tankers surged to the highest since January as shipments accelerated from Saudi Arabia and Iraq, Bloomberg reports.
    • Ships hauling 2M-barrel cargoes of Saudi crude to Japan, a benchmark route, earned ~$81.5K/day, a 13% gain from Thursday and the highest for the time of year since at least 2009.
    • Tanker rates rose on 15 out of 16 routes tracked by the Baltic Exchange, led by advances in prices from the Persian Gulf.
    • Relevant tickers: FRO, TK, TNK, TOO, TGP, TNP, GLNG, NAT, DHT
    | Fri, May 15, 2:59 PM | 27 Comments
  • Sat, May 9, 11:27 AM
    • The broadly-defined shipping sector continues to be volatile over the impact of oil price fluctuations and concerns over carrier/tanker supply along with charter rates.
    • The Baltic Dry Index stands at 574 vs. a 52-week trading range of 509 to 1,484.
    • The Guggenheim Shipping ETF (NYSEARCA:SEA) is down 9.4% over the last 52 weeks, although it trades with smoother peaks and troughs than the underlying stocks in the fund.
    • Analysts are convinced that some value picks exist in the sector, although consensus is tricky to find. A few rough screens are listed below (add your own in the comments).
    • Best YTD performance: Navios Maritime (NYSE:NAP) +37%, Scorpio Bulkers (NYSE:SALT) +35%, Tsakos Energy (NYSE:TNP) +31%, Golar LNG (NASDAQ:GLNG) +28%.
    • Lowest price-to book value: DryShips (NASDAQ:DRYS) 0.14,  Safe Bulkers (NASDAQ:SBLK) 0.32, Scorpio Bulkers 0.33, Navios Maritime Holdings (NYSE:NM) 0.34, GasLog (NYSE:GLOG) 0.39.
    • Lowest forward P/E ratio: Danaos (NYSE:DAC) 4.43, Tsakos Energy 7.15, Navios Maritime Acquisition (NYSE:NNA) 7.25, Dorian (NYSE:LPG) 7.43, Dry Ships 7.57.
    • Dividend yield: Navios Maritime Partners (NYSE:NMM) 15.2%, Capital Product Partners (NASDAQ:CPLP) 10.8%, Ship Finance International (NYSE:SFL) 10.8%, Teekay Offshore Partners (NYSE:TOO) 9.7%, Dynagas LNG Partners (NYSE:DLNG) 8.8%.
    • Other shipping stocks: PRGN, FRO, NAT, OSK, TNK, FREE, ESEA, TOPS, DSX, SHIP, NM.
    | Sat, May 9, 11:27 AM | 43 Comments
  • Fri, May 8, 9:16 AM
    | Fri, May 8, 9:16 AM | 4 Comments
  • Thu, Apr. 30, 9:19 AM
    | Thu, Apr. 30, 9:19 AM | 7 Comments
FRO vs. ETF Alternatives
Company Description
Frontline Ltdis an international shipping company. TheCompany operates in the tanker market as an international provider of seaborne transportation of crude oil.
Sector: Services
Industry: Shipping
Country: United States