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Frontline 2012 helped by cancelled newbuildings

John Fredriksen's Frontline 2012 finished the 2nd quarter 2013 with net profits of USD 37.9 million, a majority of which came from cancelled newbuilding contracts.
BY KATRINE GRØNVALD RAUN

Cancelled newbuilding contracts was the primary driving force behind Frontline 2012's net profit of USD 37.9 million in the 2nd quarter 2013, according to the company's financial report. The result marks quite a shift compared to the same period 2012, where the company achieved a deficit of USD 4.8 million.

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