FRO - Third Quarter and Nine Months 2017 Results
Frontline Ltd. (the "Company" or "Frontline"), today reported unaudited results
for the three and nine months ended September 30, 2017:
Highlights
* Reports a net loss attributable to the Company of $24.1 million, or $0.14
per share, for the third quarter of 2017, primarily due to weak average spot
daily time charter equivalent ("TCE") earnings achieved by our fleet and a
$5.8 million loss on the termination of the charter of Front Ardenne.
* Reports a net loss attributable to the Company adjusted for certain non-cash
items of $23.1 million, or $0.14 per share, for the third quarter of 2017.
* Reports net loss attributable to the Company of $16.4 million, or $0.10 per
share, and a net loss attributable to the Company adjusted for certain non-
cash items of $9.4 million, or $0.06 per share, for the nine months ended
September 30, 2017.
* Terminated the long-term charter for the 1997-built Suezmax tanker Front
Ardenne in the third quarter of 2017.
* Took delivery of five newbuildings, including two VLCCs, one Suezmax and two
LR2/Aframax tankers in the third quarter of 2017.
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Rapport:
http://hugin.info/182/R/2151276/825856.pdf