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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Frontline | FRO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 175.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 175.00 | 175.00 |
| Top Posts |
|---|
Posted at 17/3/2012 09:16 by steeplejack Speaking of consumers feeling pain at the pump, one potential beneficiary of persistently high oil prices looks to be tanker company Frontline (Nasdaq: FRO ) . Shares were up 23% today after the company acknowledged increased demand from China, while Bloomberg notes that rates for VLCC's rose a remarkable 87% in the Atlantic Basin, with the Suezmax not far behind at an 82% increase on thin supply. Although there is talk the rate jump is nothing more than a temporary blip, if the global economy is in real recovery than Frontline could be well positioned to take advantage. |
Posted at 28/8/2008 16:32 by pb10 Holding up very well in a bum market divi of $3 paid 19/09! |
Posted at 23/6/2008 20:30 by pb10 clearsoup hello, it is indeed!! divi day 25th possible float off of sealift early next yr |
Posted at 15/2/2008 09:35 by pb10 FRO has held up well in the turmoil, dont you just love these divis! |
Posted at 14/2/2008 08:08 by wassapper Spot rates up for the last quarter and a $2.00 divi for March. Nice. |
Posted at 10/10/2007 13:43 by pb10 $1.5 qtr divi + special $1.75 I love this share! |
Posted at 03/9/2007 09:21 by pb10 14% divi and future spin outs new vessels coming on stream looks good for 30gpb by april 08 only cloud is bombing of Iran and possible blockade of Hormuz. Any one out there? |
Posted at 12/6/2007 16:14 by clearsoup Calling out....Am getting positioned for asset price bubble to burst. The question is: are VLCC rate-charts looking as bubbly as many other indicators? If not, is FRO a reasonable defensive holding? |
Posted at 15/8/2005 18:06 by dstanley Received this from Tobin Smith, an American tipster:Frontline operates a fleet that consists of 35 Suezmax tankers and 42 very large crude carriers (VLCCs). Its customers include oil companies, petroleum products traders, government agencies and various other entities. The company's Suezmax tankers are used for trading mainly in the Atlantic Basin, while its VLCCs transport crude oil from the Middle East Gulf to the Far East, northern Europe, the Caribbean and the Louisiana offshore oil port. The company also engages in the charter, purchase and sale of vessels. The complaint on FRO is that rates for very large tankers have come down from the record $100,000+ day rates of late last year. Well, rates HAVE come down, but at $30,000-$50,000 a day, the business is still hugely profitable -- especially for Frontline. Those $100,000 rates were unsustainable and represented a panic attack by oil importers spooked by the Chinese inventory build in the last half of 2004. Frontline is the highest profit margin oil shipper going, and its decision to restructure as an INCOME machine takes most of the risk out of owning the shares at these prices. Another reason to own Frontline now besides income is that the NYMEX started offering two futures contracts for shipping tankers/freight, and the move should be seen as a potential positive catalyst for oil shippers. Frontline will use their futures as a tool to hedge their shipping rates. (Who better to hedge the futures than the companies who operate in the space?) This hedging brings less volatility to the oil shipping business. DEMAND WILL REMAIN STRONG The idea that shipping volume is going to drop from here is baloney. If you followed Valero's conference call a few weeks ago, the oil refiner's management said they would need higher imports to meet growing demand. Also, Royal Dutch Shell recently revealed that it led all charters with 119 booked vessels that could carry 2 million barrels each from the Persian Gulf and Red Sea to U.S., Asia, and European refineries as increased output is necessary to fill growing global demand. (Do you see the pattern here?) The global exploration and production companies have been booking very large crude carriers in order to meet transportation needs ahead of seasonally strong second half of 2005. VLCCs like the ones operated by Frontline carry 47% of all oil transported by sea. Increased production has also kept demand strong. There will be new VLCCs coming into the shipping industry in 2006 and even more in 2007. But virtually an equal number of single-hull Suezmax ships will be removed due to international maritime regulations that are making them obsolete, and the VLCC fleet will still be the favored shipping method. Bottom line, I forecast $12-$14 in Frontline dividends annually as the company tries to pay 90% or so of all their net income to stockholders, which I love. We have seen the bottom here with $30,000 day rates -- but with FRO's $18,000-a-day cost structure, oil shipping is STILL very profitable for them. I see us recommending Frontline at least into next spring as the stock moves toward $50. Add in $8-$12 of dividends (85% of those tax free), and this is just too juicy an investment to pass up. Buy shares of Frontline under $45 to collect the gains from its tanker business AND the high dividends ahead. Has anyone an interest in these shares which are quoted £22-50/£25-50 on the LSE? |
Posted at 24/9/2003 19:47 by captain swing Reckon it's time to start watching the tankers again, for an entry point. The OPEC production cut will not be taken well, I guess.Hope I make a better fist of it than last time -- missed a rise in FRO from about $3.20 to $17! |
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