Frontline believes the tanker market will remain strong
Norwegian Frontline achieved a net profit of USD 154.6 million in 2015, a year in which the merger with Frontline 2012 was realized. The carrier has secured high spot rates in the first quarter and holds a strong position in the coming year despite projections of lower activity, writes Frontline.
BY KATRINE GRØNVALD RAUN
One of the world's largest tanker carriers, Frontline, delivered a net profit of USD 154.6 million in 2015, according to the annual report on Monday. In 2014, the net result came to USD 149.5 million. The anticipated merger between John Fredriksen's two tanker carriers, Frontline and Frontline 2012, was finalized in the fourth quarter and this gives the new carrier "a unique position among its peers", notes CEO Robert Hvide Macleod in the report.
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