Frontline is now facing the likelihood of insolvency thanks to a $190 million bond coming due in April. With three quarters to go until the note is due, rates would have to average around $40K for VLCC and $34K for Suezmax.
This has not been a good week for Norwegian shipping magnate John Fredriksen. On Wednesday Seadrill Ltd. (NYSE: SDRL), the Fredriksen-controlled offshore drilling firm, posted a solid beat on earnings, but revenues fell short of the consensus estimate ...
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HAMILTON, Bermuda, Oct. 7, 2014 (GLOBE NEWSWIRE) -- Frontline Ltd. (the "Company" or "Frontline") announces that the Company has through market purchases executed October 6, 2014 bought USD 17,800,000 notional in the 4.50 % Frontline Ltd.
Deutsche Bank initiated coverage on Frontline Ltd. (NYSE: FRO) with a Hold rating and a price target of $2.00. Analyst Amit Mehrotra said, "We believe FRO is fundamentally well positioned to benefit from a turn we see coming in the crude tanker market.