Tanker giant Frontline (FRO) reported Q3 2022 results on 11/30/22
- Rev of $382.2M
- Net income of $154.4M
- Will pay a Q3 div, but it won’t happen until the Euronav (EURN) merger is complete.
- 2 new term loan faciities for refinancing existing facilities
- Extended the $275M credit facility arranged by Mr Fredriksen by another year,to 2024.
Improving tanker market puts the company in a great position for Q4 2022. And beyond, if the market continues on its trajectory in 2023.