Nov 27, 2024 / 02:00PM GMT
Lars Barstad - Frontline Plc - Chief Executive Officer of Frontline Management AS
Thank you very much dear all and thank you for dialling into Frontline's quarterly earnings call. Thank you markets and stocks don't move in a straight line I believe the last months have told us that. We have previously argued we are in a period comparable to the 2002 to 2008 Bull run, although supply of tonnage driven rather than fuelled by strong oil demand growth.
That comparison still holds, I'd argue and as an example in November 2004 the market was said to be doomed and we corrected more than 30%. The Bull rally resumed a few weeks thereafter and we were off for the skies again. For the same reasons, it's difficult to predict the bearish sentiment, the Bull runs are equally hard to call to.
So before I give the word to Inger, I'll run through RTC numbers on slide 3 in the deck. In the third quarter of 2024, Frontline achieved $39,600 per day on our VLCC fleet, $39,900 per day on our Suezmaxes and $36,000 per day on our LR2/Aframax suite.
So far in the third quarter, we've booked 77% of our
Q3 2024 Frontline Plc Earnings Call Transcript
13 hours ago
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