Credit Suisse Upgrades Frontline Ltd. (FRO) to Neutral

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Go back to Credit Suisse Upgrades Frontline Ltd. (FRO) to Neutral

Frontline (FRO) Tops Q3 EPS by 1c

November 24, 2015 6:08 AM EST

Frontline (NYSE: FRO) reported Q3 EPS of $0.09, $0.01 better than the analyst estimate of $0.08.

Fleet Development

As of September 30, 2015, Frontline's fleet consisted of 14 VLCC and eight Suezmax tankers with an aggregate carrying capacity of 5.4 million dwt. Of these, two Suezmax tankers are owned by the Company and the remaining 20 vessels are chartered in from third parties. Additionally, the Company has 6 VLCCs, eight Suezmax tankers, 10 LR2 Aframax tankers, and 15 MR2 Handysize tankers under commercial management.

The majority of the Company's leased vessels are leased from Ship Finance International Ltd. ("Ship Finance") under long term... More