I have been cautioning against Frontline Ltd. (NYSE:FRO) for almost two years now, and in the last two quarters, the company has admitted the fact that solvency will be an issue in the next six months.
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 ...
In company news, Oil tanker-operator Frontline Ltd. ( FRO ) was in rough waters Thursday after warning investors it may not be able to generate enough cash from operations to repay a $190 million convertible bond loan coming due next April.
Frontline Ltd said that it expected to de-consolidate the Windsor group in 3Q14 as a consequence of the Chapter 11 filing and the fact the group is consolidated under the variable interest entity model.
Frontline Ltd. (NYSE:FRO) made a new 52-week low of $1.99 in the previous trading session after Clarkson Capital cut its price target for the Bermuda-based shipping company to $2.50 per share, in a research report published on Friday morning.
Frontline (NYSE:FRO) -6.2% premarket after posting another quarter of losses and declining revenue, while saying it is in a "challenging situation" with $1.03B in debt and lease obligations as of June 30.