The net deficit grew in the 3rd quarter for tanker carrier Frontline, which - including impairments - suffered a loss of USD 59.6 million, worse than the same period last year, where the carrier noted a USD 36.4 million deficit, according to the interim report.
The carrier performed impairments on four VLCC vessels for USD 41.5 million in the quarter, which had a big negative impact on the result. Frontline signed an agreement with another Fredriksen-owned company in the period, Ship Finance, to cancel long-term charter contracts for three supertankers.
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