Increased tanker scrapping makes Frontline confident in recovery

Like its rivals, John Fredriksen-controlled operator Frontline had a tough third quarter with red figures on the bottom line. More scrapping of tankers is among the factors giving CEO increased confidence in an imminent recovery.

Photo: Frontline

Frontline is part of the choir of tanker operators that are singing of signs pointing to an imminent recovery in the strained market.

As with a long range of its rivals, Frontline's bottom line shows red figures for the third quarter, too. The carrier reports a net loss for the period of USD 33.2 million and an adjusted net loss of USD 35.9 million, reveals the interim report published on Monday.

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