Brief: Frontline Says Q4 Came In Unusually Soft Compared To Previous Years

Frontline

28/02/2025 06:41

Feb 28 (Reuters) - Frontline Ltd FRO.OL:

Q4 ADJUSTED PROFIT OF $45.1 MILLION, OR $0.20 PER SHARE FOR Q4 OF 2024

Q4 OF 2024 CAME IN UNUSUALLY SOFT COMPARED TO PREVIOUS YEARS

GLOBAL OIL DEMAND WAS UP MARGINALLY AS YEAR CAME TO AN END, BUT GLOBAL SEABORNE EXPORTS SLOWED IN Q4

DURING QUARTER WE SAW POSITIVE DEVELOPMENTS IN ENFORCEMENT OF SANCTIONS AGAINST IRAN AND RUSSIA IN PARTICULAR

THESE TWO COUNTRIES REPRESENT A MATERIAL PART OF SUPPLY TO ASIA, AT COST TO DEMAND FOR VESSELS FRONTLINE OPERATES

FOR 2025 WE HAVE ALREADY SEEN BROADER SANCTIONS WITH A WIDER SCOPE

KEY IMPORTERS OF EXPOSED CRUDE ARE DIVERSIFYING AWAY FROM MENTIONED SUPPLIERS

EXPECT SPOT TCES FOR FULL Q1 OF 2025 TO BE LOWER THAN SPOT TCES CURRENTLY CONTRACTED

Source text: ID:nGNE6pvMV4

Further company coverage: FRO.OL

 (Gdansk Newsroom)

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