Copenhagen—Norwegian sister tanker groups Frontline Ltd. and Frontline 2012 on Tuesday posted bumper third-quarter earnings, boosted by fleet utilization at levels not seen since 2009, and said they expected strong demand to continue. Both companies, which are controlled by Norwegian shipping billionaire John Fredriksen and due to merge in a week’s time, said conditions in the tanker market were optimal with world oil supply at its highest level ever at nearly 97 million b/d.
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