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Gulf of Oman tanker attack could spike rates

Last week's attack on two tanker vessels in the Gulf of Oman could cause tanker rates to spike significantly in the region, estimates analyst firm Platts. The increased risk could also cause an increase in insurance premiums.

Frontline hesitant to send more ships to the Gulf of Oman

Frontline is exercising "extreme caution" when it comes to sending more ships through the Gulf of Oman following last week's attack on two tanker vessels. Both vessels are now in the United Arab Emirates, while Frontline's crew is in Dubai.

This week's top stories on ShippingWatch

Two tankers were attacked in the Gulf of Oman Thursday, it is still unknown who is to blame. OW Bunker's former CEO in Singapore, Lars Møller, is going to prison for five years, Get an overview of this week's top picks.

Frontline tanker attacked in waters off Fujairah

Vessel Front Altair, owned by John Fredriksen's tanker shipping company Frontline, is among two ships attacked off the coast of Fujairah in the Gulf of Oman. The crew of the Frontline vessel has been picked up, sources tell ShippingWatch.

55 new supertankers could hit the water this year

A large number of VLCC newbuilds is expected to hit the water this year, and the scrapping of older vessels could also slow down. Yet Frontline CEO Robert Hvide Macleod still expects a "moderate fleet growth," he tells ShippingWatch.

Frontline CEO sees signs of growth for tanker in 2019

After a strong start to 2019, Frontline and CEO Robert Hvide Macleod expect a tanker market that will overall perform better than last year. However, the number of new ships set for delivery this year represents just one of several concerns.

Frontline reports strong start to 2019

Despite a double-digit million dollar profit for the fourth quarter, 2018 finished with a deficit for tanker shipping company Frontline. But 2019 is off to a strong start, with VLCC rates especially getting a boost, says CEO.

Prospect of fleet growth curbs Frontline's optimism

The market for the major crude oil tankers has turned around, says Frontline CEO Robert Hvide Macleod in a comment to ShippingWatch. But OPEC and fleet growth in 2019 stand as two jokers in terms of whether the market will become really strong.

VLCC rates are far from satisfying to Frontline

The crude oil carriers' downturn has become symptomatic of the overall tanker sector. Speaking to ShippingWatch, Frontline CEO Robert Hvide Macleod puts a number on how high VLCC rates will have to increase in order to recreate a healthy market – and it is far from the current level.

Frontline books major deficit for first half of 2018

Frontline finished the first half of the year with a large deficit compared to a profit in the same period last year. The tanker shipping company hopes for better rates going forward, citing factors such as increased scraping ahead of the 2020 sulfur cap.

Frontline buys stake in scrubber supplier

John Fredriksen's Frontline has signed a memorandum of agreement to buy 20 percent of scrubber supplier Feen Marine Scrubbers. The tanker shipping company has also placed an order for 14 scrubbers so far.

Frontline books deficit in weak first quarter

John Fredriksen's crude oil tanker carrier has booked a new deficit. "Inventory draws impacted a freight market that was already suffering from high fleet growth," says the carrier's CEO.

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