ShippingWatch

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.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
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

Growth prompts OSM to send 150 managers on a leadership course

An equal approach to management and a desire to be more aligned are some of the reasons why OSM is sending both top and mid-level managers on a custom-made leadership course. ShippingWatch has spoken to OSM’s new chief culture officer about the initiative.

MSC, Lufthansa mull acquiring Italian state aviation firm

The world’s largest container line, MSC, and German aviation company Lufthansa have offered to take over Italian state airline ITA, the former Alitalia. MSC and Lufthansa have requested a 90-day exclusivity period to closely examine ITA.

Further reading

Related articles

Latest news

See all jobs