ShippingWatch

Frontline books profit despite more than halving the top line

In what has been a difficult first quarter for tanker carriers, John Fredriksen's Frontline comes out with a profit despite more than halving the top line. The coronavirus pandemic is a continuing source of uncertainty, says CEO.

Photo: Frontline

Tanker company Frontline, controlled by John Fredriksen, comes out of the first three months of the year with black numbers on the bottom line.

In an overall difficult start to 2021 for tanker companies, in which Frontline also saw revenues decline drastically, the tanker company reports a net profit for the period of USD 28.9 million as well as an adjusted net profit of USD 8.8 million.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

"Mixed lobbying" hinders Maersk from elite status on climate efforts

Think tank InfluenceMap has mapped out how well global companies like Unilever, Ikea and Maersk are performing in terms of meeting climate requirements and whether their words match their deeds. Ambiguous communication stands in the way of Maersk reaching the top, the think tank explains to ShippingWatch.

Danske Bank makes commitment to CO2 neutral loan portfolio by 2050

By 2050 at the latest, Danske Bank's loan portfolio must be fully CO2 neutral. The bank, which provides loans to shipping as well as the oil and gas sector and also supports the Poseidon Principles, isn't ready yet to set out short-term intermediate targets on the road towards CO2 neutrality.

Further reading

Related articles

Trial banner

Latest news

See all jobs