Frontline 2012 surpassed all expectations in 2014

John Fredriksen-controlled tanker carrier Frontline 2012 delivered a fourth quarter 2014 result that significantly surpassed the competition as well as analyst expectations.

- Photo: Richard Drew/AP/POLFOTO/arkiv

Tanker carrier Frontline 2012, which is controlled by John Fredriksen, beat its competitors as well as analysts' expectations in the final months of 2014.

The company achieved an operating profit, EBITDA, of USD 41.6 million - significantly above the market consensus of USD 32.9 million. Analyst agency Fearnley, which rates Frontline 2012 an absolute top pick and potential market leader in crude oil transports, notes on Thursday that the carrier's ships have been sailing at much higher time charter rates in the fourth quarter than expected.

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