Frontline Just Posted $228 Million in Quarterly Profit as Supertanker Rates Hit Multi-Decade Highs, and the Sanctions-Driven Shortage Reshaping Global Oil Shipping Shows No Sign of Ending
Frontline reported Q4 profit of $228 million as supertanker rates surged to levels not seen in decades. Sanctions have removed over 15% of the VLCC fleet from the market.