Financial and Economic Indicators

摘要

Towards the end of August, Frontline, who own five VLCCs and five Suezmaxes of a combined 2.3m dwt, reported net earnings of $17.54m in Q2 2015, compared to a loss of almost $79m in the corresponding period in 2014. This was supported by firm spot earnings and reduced voyage costs, with operating expenses in Q2 2015 falling 45% y-o-y. The John Fredriksen-controlled company is expected to merge with Frontline 2012, also owned by Fredriksen, in the near future, after Frontline filed documentation with the US Securities and Exchange Commission in August. According to start September data, the merged owner would own 31 oil tankers of a combined 4.0m dwt, including 11 VLCCs and 10 Suezmaxes.