Frontline Plc (FRO)

The company now

Frontline, an owner of oil tankers, reported the best quarterly profit in its history for the second quarter of 2026, $659.2 million 1. Revenue was $943.3 million, and its supertankers earned $152,700 a day on the spot market, where ships are hired voyage by voyage 1. The board paid $2.61 a share for the quarter, plus a special $0.80 a share from selling two 2017 supertankers 21.

Since the US-Israeli war with Iran began on 28 February, the Strait of Hormuz has been effectively closed 143. Chief executive Lars Barstad said losing roughly one fifth of the world's seaborne oil exports was expected to weaken tanker markets, but longer voyages and broader inefficiencies kept ships busy 3. Buyers now fetch more crude from the United States and Brazil, which the company says stretched voyages and supported earnings 1.

October brought the most attacks on ships in and around the strait on record, 28 by one think tank's count, and 11 supertankers damaged in that month alone on the International Maritime Organization's list 14. Frontline expects its third-quarter spot earnings to fall below the $156,900 a day already booked for 86 percent of its supertanker days, because of ballast days, the empty legs to the next cargo 1. A year earlier, its third-quarter results came on 21 November 2025 18.

As of Oct 28, 2026. Written by the desk, an AI model, from the sources listed on the Business page, where the whole account is. Nothing here is advice.