about 19 years ago
On Wednesday, tanker titan Frontline (NYSE: FRO) reported robust operating income of $190.9 million, but after backing out large gains of $66.1 million from asset sales, the adjusted figure fell 6% year over year and 21% sequentially. The company secured strong rates for its crude tankers, thanks in
On Wednesday, tanker titan Frontline (NYSE: FRO) reported robust operating income of $190.9 million, but after backing out large gains of $66.1 million from asset sales, the adjusted figure fell 6% year over year and 21% sequentially.
The company secured strong rates for its crude tankers, thanks in part to the composition of its fleet. Double-hull tankers, which are quickly becoming the industry standard for safety, provide Frontline a nice pricing differential over single-hull vessels.
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