reports
FRO – Filing of Annual Report
FRO – Filing of Annual Report Frontline plc (the “Company”) announces the filing of its annual report for the year ended December 31, 2023. The annual report can be downloaded from the Company’s website or from the link below. Additionally, shareholders can request a hard copy of our complete audited financial statements free of charge by writing to us at:John Kennedy 8 Iris Building, 7th floor, Flat/Office 740B, 3106, Limassol, Cyprus. or sending an e-mail to April 26, 2024 Frontline plc Limassol, Cyprus. ...
- Jørgen Lian
A brewing challenge for the yards
Our 17th Annual Energy & Shipping Conference was well attended by investors and industry executives showcasing the still-growing interest for the sectors. Limited yard capacity is fuelling high newbuilding prices and raising freight rate expectations for the vast fleet renewal necessary in the coming decade. Long lead times underpin a bullish supply story for much of shipping in the coming years, albeit exposed to geopolitical risks affecting trade patterns. Our overall impression was general op...
DHT DHT HOLDINGS INC.
SBL SAFE BULKERS INC.
LPG DORIAN LPG
GNK GENCO SHIPPING & TRADING LTD.
MAERSK B A.P. MOLLER - MAERSK A/S CLASS B
ODF ODFJELL ASA
WAWI WALLENIUS WILHELMSEN LOGISTICS ASA
WWI WILHELM WILHELMSEN HOLDING
SBLK STAR BULK CARRIERS CORP.
FRO FRONTLINE LTD.
G2O GOLAR LNG LIMITED
AMSC AMERICAN SHIPPING COMPANY ASA
SN6 STOLT-NIELSEN LTD.
BWLPG BW LPG LTD.
GOGLO GOLDEN OCEAN GROUP LTD
AVACF AVANCE GAS HOLDINGS LTD
HUNT HUNTER GROUP ASA
STNG SCORPIO TANKERS INC.
FLNG FLEX LNG LTD.
SFL SFL CORPORATION LIMITED
TNK TEEKAY TANKERS
2020 2020 BULKERS LTD
KCC KLAVENESS COMBINATION CARRIERS
EGLE EAGLE BULK SHIPPING
MPCC MPC CONTAINER SHIPS AS
HAUTO HOEGH AUTOLINERS ASA
WEST WESTERN BULK CHARTERING
HAFNI HAFNIA
COOL COOL COMPANY LTD.
HSHP HIMALAYA SHIPPING LTD.
- Jørgen Lian
Frontline Minor model adjustments
We have updated our estimates, owing to the Q4 results and QTD fixtures. We do not consider these changes to be material, and we have not changed our BUY recommendation. We retain our positive outlook for VLCCs given growing freight demand, low orderbook and high fleet renewal requirements due to strict environmental regulations. Frontline’s well-timed acquisition of 24 VLCCs from Euronav has already gained USD200m for its shareholders (~NOK10/share) since the transaction, while also increasing ...
FRO – Q4 2023 Presentation
FRO – Q4 2023 Presentation Please find enclosed the presentation of Frontline plc´s fourth quarter 2023 results to be held on the webcast / conference call 29 February, 2024 at 15:00 CET. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Attachment
FRO – Fourth Quarter and Full Year 2023 Results
FRO – Fourth Quarter and Full Year 2023 Results FRONTLINE PLC REPORTS RESULTS FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2023 Frontline plc (the “Company” or “Frontline”), today reported unaudited results for the three and twelve months ended December 31, 2023: Highlights Profit of $118.4 million, or $0.53 per share for the fourth quarter of 2023. Adjusted profit of $102.2 million, or $0.46 per share for the fourth quarter of 2023. Declared a cash dividend of $0.37 per share for the fourth quarter of 2023.Reported revenues of $415.0 million for the fourth quarter of 2023.Took delivery of...
FRO – Invitation to Q4 2023 Results Conference Call and Webcast
FRO – Invitation to Q4 2023 Results Conference Call and Webcast Frontline plc.’s preliminary fourth quarter 2023 results will be released on Thursday February 29, 2024, and a webcast and conference call will be held at 3:00 p.m. CET (9:00 a.m. U.S. Eastern Time). The results presentation will be available for download from the Investor Relations section at ahead of the conference call. In order to attend the conference call you may do one of the following: a. WebcastGo to the Investor Relations section at and follow the “Webcast” link, or access directly from the link below. b. Confe...
FRO – Invitation to Q4 2023 Results Conference Call and Webcast
FRO – Invitation to Q4 2023 Results Conference Call and Webcast Frontline plc.’s preliminary fourth quarter 2024 results will be released on Thursday February 29, 2024, and a webcast and conference call will be held at 3:00 p.m. CET (9:00 a.m. U.S. Eastern Time). The results presentation will be available for download from the Investor Relations section at ahead of the conference call. In order to attend the conference call you may do one of the following: a. WebcastGo to the Investor Relations section at and follow the “Webcast” link, or access directly from the link below. ...
- Jørgen Lian
Frontline (Buy, TP: NOK264.00) - VLCCs still hold the key
Exceptional mid-size tanker rates are softening the blow of relatively unexceptional VLCC rates. We expect fundamentals to tighten as the 2.6% VLCC orderbook-to-fleet ratio is met with high renewal requirements, as 17% of VLCCs are above 20 years old. We reiterate our BUY and have raised our target price to NOK264 (257).
FRO – Sale of its five oldest VLCCs
FRO – Sale of its five oldest VLCCs Frontline plc (the “Company” or “Frontline”) (NYSE: FRO – OSE: FRO) today announced that it has entered into an agreement whereby the Company will sell its five oldest VLCCs, built in 2009 and 2010, for an aggregate net sale price of $290 million. The vessels are expected to be delivered to the new owner during the first quarter of 2024. After repayment of existing debt on the vessels, the transaction is expected to generate net cash proceeds of approximately $207 million, and the Company expects to record a gain in the first quarter of 2024 in the range ...
FRO – 2023 Annual General Meeting
FRO – 2023 Annual General Meeting Frontline plc (the “Company”) advises that the 2023 Annual General Meeting of the Shareholders of the Company was held on 12 December 2023 at 09:00 a.m. at Soteriou Tofini Street 4, Ayios Athanasios, 4102 Limassol, Cyprus. The audited consolidated financial statements for the Company for the year ended 31 December 2022 were presented to the Meeting. In addition, the following resolutions were passed: To re-elect John Fredriksen as a Director of the Company.To re-elect James O’Shaughnessy as a Director of the Company.To re-elect Ola Lorentzon as a Director...
- Jørgen Lian
Frontline (Buy, TP: NOK257.00) - Case intact despite lower volumes
Despite potential volume headwinds, we believe the tanker investment case is intact on favourable supply-side fundamentals. Frontline’s recent sell-off thus seems to be an attractive entry point into the multi-year upcycle we forecast for tankers, especially when incremental volume potential remains to the upside, as oil demand continues to improve. We reiterate our BUY but have reduced our target price to NOK257 (267).
FRO – Q3 2023 Presentation
FRO – Q3 2023 Presentation Please find enclosed the presentation of Frontline plc´s third quarter 2023 results to be held on the webcast / conference call 30 November, 2023 at 15:00 CET. This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act. Attachment
FRO – Third Quarter and Nine Months 2023 Results
FRO – Third Quarter and Nine Months 2023 Results FRONTLINE PLC REPORTS RESULTS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2023 Frontline plc (the “Company” or “Frontline”), today reported unaudited results for the nine months ended September 30, 2023: Highlights Profit of $107.7 million, or $0.48 per basic and diluted share for the third quarter of 2023.Adjusted profit of $80.8 million, or $0.36 per basic and diluted share for the third quarter of 2023.Declared a cash dividend of $0.30 per share for the third quarter of 2023.Reported revenues o...
FRO – Invitation to Q3 2023 Results Conference Call and Webcast
FRO – Invitation to Q3 2023 Results Conference Call and Webcast Frontline plc.’s preliminary third quarter 2023 results will be released on Thursday November 30, 2023, and a webcast and conference call will be held at 3:00 p.m. CET (9:00 a.m. U.S. Eastern Time). The results presentation will be available for download from the Investor Relations section at ahead of the conference call. In order to attend the conference call you may do one of the following: a. WebcastGo to the Investor Relations section at and follow the “Webcast” link, or access directly from the link below. ...
FRO – Closing under the Share Purchase Agreement with CMB NV
FRO – Closing under the Share Purchase Agreement with CMB NV Frontline plc (“Frontline”) (NYSE and OSE: FRO), today announced that the sale by Frontline of 13.7 million shares in Euronav NV (“Euronav”) to CMB NV (“CMB”) has been completed. On 9 October 2023 Frontline announced that it had agreed on an integrated solution to the strategic and structural deadlock in Euronav, where Frontline had entered into agreements with Euronav to acquire a high-quality ECO fleet of 24 VLCCs with an average age of 5.3 years, for an aggregate purchase price of USD 2,350 million (the “Acquisition”). In conne...
FRO – Notice of Annual General Meeting 2023
FRO – Notice of Annual General Meeting 2023 Frontline plc (the “Company”) announces that its 2023 Annual General Meeting will be held on December 12, 2023. A copy of the Notice of Annual General Meeting and associated information including the Company’s Annual Report on Form 20-F for 2022 can be found on our website at and attached to this press release. November 20, 2023Limassol, Cyprus This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Attachments ...
FRO – 2023 Annual General Meeting
FRO – 2023 Annual General Meeting Frontline plc (the “Company”) advises that the 2023 Annual General Meeting of the Company will be held on December 12, 2023. The record date for voting at the Annual General Meeting is set to November 20, 2023. The notice, agenda and associated material will be distributed prior to the meeting. Limassol, CyprusNovember 10, 2023 This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
- Dave Nicoski
- Ross LaDuke
Vermilion Compass: Weekly Equity Strategy
Bullish Breadth Divergences Persist The S&P 500 is just below 4165-4200 support, and the Nasdaq 100 (QQQ) is just below $350-$355 support. Given they were only 1%-1.5% below these supports at last week's lows, we cannot call them "decisive" breakdowns quite yet. Regardless, these levels are now resistance (in addition to the 200-day MA on SPX), and they are important lines-in-the-sand moving forward. We cannot be bullish if the SPX and QQQ are below the aforementioned levels, but it would be bu...
LINC LINCOLN EDUCATIONAL SERVICES
DHT DHT HOLDINGS INC.
NVGS NAVIGATOR HOLDINGS
LPG DORIAN LPG
EGO ELDORADO GOLD CORP.
TK TEEKAY CORPORATION
K. KINROSS GOLD CORPORATION
NAT NORDIC AMERICAN TANKERS LIMITED
IMG. IAMGOLD CORPORATION
FRO FRONTLINE LTD.
UTI UNIVERSAL TECHNICAL INSTITUTE INC.
BVN... COMPANIA DE MINAS BUENAVENTURA SAA SPONSORED ADR
OSG OVERSEAS SHIPHOLDING GROUP
INSW INTERNATIONAL SEAWAYS INC.
LAUR LAUREATE EDUCATION INC. CLASS A
STRA STRATEGIC EDUCATION INC.
STNG SCORPIO TANKERS INC.
AFYA AFYA
SFL SFL CORPORATION LIMITED
PRDO PERDOCEO EDUCATION CORP
TNP TSAKOS ENERGY NAVIGATION LTD.
LRN STRIDE INC
- Jørgen Lian
Frontline (Buy, TP: NOK267.00) - In pole position
Frontline’s acquisition of 24 modern VLCCs from Euronav has cemented its position as the go-to listed tanker exposure. With a modern fleet and decent leverage, the return potential in a strong tanker market looks highly appealing. The unrivalled supply dynamics are impaired near-term only by volume constraints to exports, which are building to a potential catch-up on OPEC cut reversals at some point. We reinstate a recommendation with a BUY and NOK267 target price.
FRO – Investor Call Presentation
FRO – Investor Call Presentation Please find enclosed the presentation in relation to Frontline plc´s investor call to be held on the webcast / conference call October 9, 2023 at 15:00 CET. This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act. Attachment
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