Frontline rises as sanctions boost demand for crude carriers

Frontline

13/01/2025 09:34

** Shares in Norwegian oil tanker group Frontline  FRO.OL 
rise 3.8% as tighter U.S. sanctions on Russian and Iranian
fleets boost demand for large crude carriers
    ** Sanctions on shadow fleets could potentially retire
tankers from service and drive up demand for vessels operated by
non-Russian traders such as Frontline, says Kepler Cheuvreux in
a post on a Swedbank Aktiellt platform
    ** "Assuming that 50% of these volumes will now be replaced
by exports from Middle Eastern countries and through large crude
carriers (VLCCs), this means that demand for VLCCs could
potentially increase by 6-7%," adds broker
    ** Frontline is among top performers on the pan-European
STOXX 600 index  .STOXX 

 (Reporting by Jesus Calero)
 ((Jesus.calero@thomsonreuters.com))