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Frontline's CEO confident in better crude market despite another deficit

Norwegian tanker carrier Frontline books yet another deficit in the third quarter, but CEO Robert Hvide Macleod is confident the crude oil market has rebalanced from "extremely challenging conditions," he says in the report.

Photo: Frontline

Frontline did not succeed in escaping its deficit in the third quarter of a year specialists have called completely horrible for crude oil tankers.

With a USD 8.4 million deficit, things did slightly improve compared to the second quarter, when the carrier lost USD 27.7 million, and CEO Robert Hvide Macleod also expects the market to recover sligtly.

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