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Frontline Ltd (FRO.OL)

FRO.OL on Oslo Stock Exchange

44.72NOK
21 Sep 2018
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Latest Key Developments (Source: Significant Developments)

Frontline Q2 loss smaller than expected, takes stake in scrubber maker
Wednesday, 22 Aug 2018 

Aug 22 (Reuters) - Frontline Ltd ::FRONTLINE Q2 NET RESULT $-22.9 MILLION (REUTERS POLL LOSS $33 MILLION).POSITIONING FOR "IMO 2020" REGULATIONS BY ACQUIRING 20% IN FEEN MARINE SCRUBBERS INC., A LEADING MANUFACTURER OF EXHAUST GAS SCRUBBERS AND SECURING CAPACITY TO SOURCE A LARGE VOLUME OF EGCS FOR COMPANY.DESPITE CURRENT WEAK RATE ENVIRONMENT, WE BELIEVE CYCLICAL CHANGES ARE UNDERWAY AND AS A RESULT WE ARE MORE OPTIMISTIC ON TANKER RATES.FRONTLINE: FACTORS SUPPORTING OUR EXPECTATION INCLUDE CONTINUED SCRAPPING AHEAD OF 2020 OFFSETTING NEW DELIVERIES AND INCREASED DEMAND FOR SEABORNE TRADE AS A RESULT OF EXPECTED GROWTH IN BOTH US EXPORTS AND OPEC PRODUCTION.WILL CONTINUE TO LOOK FOR RIGHT INVESTMENT OPPORTUNITIES TO FURTHER POSITION COMPANY FOR EXPECTED RECOVERY.FRONTLINE Q2 OPERATING RESULT $-1.0 MILLION (REUTERS POLL LOSS $11 MILLION).  Full Article

Frontline says Launching of ATM Equity Offering
Tuesday, 24 Jul 2018 

July 24 (Reuters) - Frontline Ltd ::FRONTLINE - ENTERED INTO EQUITY DISTRIBUTION AGREEMENT DATED JULY 24, WITH MORGAN STANLEY & CO. LLC FOR OFFER AND SALE OF UP TO $100 MILLION OF SHARES OF CO.  Full Article

Frontline CEO calls for more M&A among oil tanker firms
Wednesday, 22 Nov 2017 

Nov 22 (Reuters) - Frontline Ltd CEO Robert Hvide Macleod said during a call with analysts on Wednesday::Sees oil tanker market recovering in the second half of 2018, depending on the pace of old vessel scrapping.Oil tanker market needs more consolidation, the market is too fragmented now.  Full Article

Frontline expects near-term pressure on rates due to fleet growth
Wednesday, 22 Nov 2017 

Nov 22 (Reuters) - Tanker firm Frontline Ltd : :Frontline expects near-term pressure on rates due to fleet growth.Tanker firm frontline says global year-to-date delivery of new vlccs (very large crude carriers) from yards to shipping firms stands at 44 units, ytd suezmax deliveries at 48 units.Frontline says global vessel delivery pace expected to slow towards the end of the year before picking up again in q1 2018.Frontline expects tanker industry's scrapping of old vessels to increase going forward as spot market remains especially challenging for older tonnage.  Full Article

BRIEF-Frontline Q3 net loss $24.1‍​ million
Wednesday, 22 Nov 2017 

Adds missing word "million" in second bullet point; attaches story to alerts:Frontline q3 net loss $‍24.1​ million (reuters poll loss $26.2 million).Frontline q3 operating loss $‍​5.4 million (reuters poll loss $9.2 million).Says loss is primarily due to weak average spot daily time charter equivalent ("TCE") earnings achieved by its fleet and a $5.8 million loss on the termination of the charter of Front Ardenne..‍Says impact of significant fleet growth over last two years was felt across industry and is reflected in results for q3​.Due to the net loss attributable to the company in the third quarter, the board has decided not to pay a dividend for the third quarter. ‍​.Says we are at the bottom of the cycle, and this is reflected in rates and asset prices‍​.Says will continue to execute strategy of fleet growth and renewal.  Full Article

Frontline Q3 net loss $24.1‍​ million
Wednesday, 22 Nov 2017 

Nov 22 (Reuters) - Frontline Ltd :Frontline q3 net loss $‍24.1​ million (reuters poll loss $26.2 million).Frontline q3 operating loss $‍​5.4 million (reuters poll loss $9.2).Says loss is primarily due to weak average spot daily time charter equivalent ("TCE") earnings achieved by its fleet and a $5.8 million loss on the termination of the charter of Front Ardenne..‍Says impact of significant fleet growth over last two years was felt across industry and is reflected in results for q3​.Due to the net loss attributable to the company in the third quarter, the board has decided not to pay a dividend for the third quarter. ‍​.Says we are at the bottom of the cycle, and this is reflected in rates and asset prices‍​.Says will continue to execute strategy of fleet growth and renewal.  Full Article

Frontline: CEO enters TRS agreements with exposure to 150,000 Frontline shares
Friday, 1 Sep 2017 

Sept 1 (Reuters) - Tanker firm Frontline Ltd ::Robert Hvide Macleod, CEO of Frontline Management AS, has on 31 august 2017 entered into TRS (total return swap) agreements with exposure to 150,000 shares in Frontline Ltd.Expiry date 30 November 2017 and TRS price NOK 39.56 per underlying share.In addition, Mr Macleod owns 270,000 shares in Frontline, and holds options to acquire 798,000 shares in Frontline, as previously disclosed .  Full Article

DHT Holdings SAYS court denies Frontline's request for preliminary injunction
Wednesday, 7 Jun 2017 

June 7 (Reuters) - DHT Holdings Inc :DHT Holdings, Inc.: Court denies Frontline's request for a preliminary injunction.High court of Marshall Islands has denied Frontline Ltd's request for a preliminary injunction.Court cited "Frontline's failure to demonstrate a probability of success on merits of its claims".Injuction is relating to transactions contemplated by previously announced vessel acquisition agreement between co and BW Group Limited.‍High court of Marshall Islands, Supreme Court of State of NY rejected Frontline's attempt to interfere with co's deal of BW's fleet​.Court noted that Frontline "has no likelihood of success" on any challenge to rights plan implemented by DHT board.  Full Article

DHT Holdings board unanimously rejects unimproved proposal from Frontline
Sunday, 7 May 2017 

May 7 (Reuters) - DHT Holdings Inc ::DHT Holdings Inc Board unanimously rejects unimproved proposal from frontline.DHT Holdings - following review, have unanimously concluded that proposal continues to be wholly inadequate for DHT and its shareholders.  Full Article

NORWEGIAN STOCKS-Salmar and Hoegh LNG drop after Q2 results

OSLO, Aug 23 (Reuters) - * Norwegian shares traded up on Thursday * Oslo's benchmark index rose 0.04 pct, or 0.34 points, to 907.33 points and was up by 11.36 pct year-to-date * The broader Oslo All Share Index was unchanged for the day * Brent crude futures, a trigger for the oil heavy Oslo Bourse, fell $-0.22 to $74.56 a barrel * Among the biggest firms on the Oslo Bourse, Equinor rose 0.05 pct, Telenor fell 0.94 pct and DNB rose 0.60 pct * Turnover at the Oslo Bourse was 2.3 billion Norwegian