Frontline faces a fourth quarter with significant rate drops

John Fredriksen's Frontline has so far seen rates subside in the fourth quarter and fleet earnings are set to decrease further in the time to come. The shipping company has just signed new loan agreements.

Photo: Frontline

Tanker shipping company Frontline expects to see a further drop in earnings for its fleet in the weeks to come.

A mix of the current achievable rates in the tanker sector and ballast days towards the end of December mean that the John Fredriksen-controlled company expects to see spot rates for its fleet end at a lower level for the fourth quarter as a whole than what they are today.

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