Frontline plc posted a profit of $60.5 million in the third quarter of 2024 despite challenging market conditions. The tanker shipping giant reported revenues of $490.3 million. The company’s adjusted…
https://gcaptain.com/frontline-ceo-warns-of-shadow-fleets-impact-on-tanker-market/
Frontline plc (NYSE: FRO), a major player in the tanker industry, has reported its Q2 2024 earnings of $0.62 per share, matching the previous quarter’s results but slightly below analyst…
https://gcaptain.com/frontline-anticipates-seasonal-upturn-in-tanker-market/
Norwegian shipowner Østensjø, through its wholly owned subsidiary Østensjø Wind, has agreed to sell 21.3 million shares in offshore support vessel (OSV) operator Edda Wind to relinquish any shares or rights to shares in the latter company. Østensjø Rederi has managed Edda Wind’s fleet of vessels...
Τα ισχυρότερα ετήσια οικονομικά αποτελέσματα των τελευταίων 15 ετών κατέγραψε η Frontline το 2023, παρά το γεγονός ότι το δ’ τρίμηνο η απόδοση των ναυλαγορών δεν ήταν η αναμενόμενη.
Η εταιρεία σημείωσε κέρδη $118,4 εκατ. το δ’ τρίμηνο ή $0,53/μετοχή, ενώ η κερδοφορία για το σύνολο του έτους διαμορφώθηκε στα $656,4 εκατ. Τα έσοδα της Frontline άγγιξαν τα $415 εκατ. το δ’ τρίμηνο και τα $1,83 δισ. για το σύνολο του έτους.
Με αφορμή την ανακοίνωση των οικονομικών αποτελεσμάτων, ο CEO της Frontline,...
https://www.naftikachronika.gr/2024/03/02/ypsilo-15etias-gia-ta-kerdi-tis-frontline/
Attacks on shipping in the Red Sea have had almost no impact on the oil price, despite the volume of oil shipped through the waterway surging 80 per cent over the last two years because of the war in the Ukraine. Markets more worried about a soft global economy and rising US and Brazilian oil […]
The...
https://www.bairdmaritime.com/ship-world/tanker-world/opinion-shipping-oil-through-troubled-waters/
Norwegian tanker major Frontline has agreed to sell its five oldest very large crude carriers (VLCCs), aligning with the company’s strategy of having only eco-friendly vessels in its fleet.
The post Frontline sells non-eco ships to have entire fleet fuel-efficient appeared first on Offshore Energy.
https://www.offshore-energy.biz/frontline-sells-non-eco-ships-to-have-entire-fleet-fuel-efficient/
The Saverys family is continuing with the reshaping of Euronav (NYSE:EURN) following the deal that saw 24 of the company’s VLCCs being transferred to John Fredriksen’s Frontline, resolving a long-running merger battle, Euronav, whose controlling shareholder is now the Saverys family controlled CMB NV, on Friday, reached an agreement to acquire CMB’s clean tech division, CMB.TECH NV, for $1.15 billion in cash. The purchase price will be financed from the cash proceeds of the sale of the 24...
https://www.marinelog.com/news/euronav-set-to-acquire-cmb-tech/
Supply chain disruptions as a result of Houthi attacks on merchant ships in the Red Sea are only likely to increase. A growing number of ship operators have themselves decided to suspend operations through the area and yesterday the Norwegian Maritime Authority effectively made the Red Sea pretty much a no go area for Norwegian ships.
“Today, the Norwegian Maritime Authority decided to raise the security level in the southern part of the Red Sea to the highest level, level 3,” it said. “This...
https://www.marinelog.com/legal/safety-and-security/red-sea-is-becoming-a-no-go-zone-for-shipping/
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Shipping already faces fallout from two wars: trade shifts due to Russia’s invasion of Ukraine and...
https://www.freightwaves.com/news/how-venezuelan-invasion-of-guyana-could-impact-tanker-shipping
With 24 of its VLCCs being transferred to John Fredriksen’s Frontline as part of a deal that resolved a long-running merger battle, Euronav NV (NYSE: EURN) has been rebuilding its fleet with a series of newbuilding orders that began in August when it announced an agreement purchase one VLCC newbuild from an undisclosed yard at a price of $112.2 million that included an option for a second. It exercised that option on October 12, when it looks to have taken an option on a third.
Yesterday, it...