Frontline (FRO) has released an update.
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Frontline PLC has expanded its fleet with the acquisition of 24 VLCCs and trimmed down its fleet by selling older vessels, resulting in significant gains and net cash proceeds. The company also secured time charter contracts for a VLCC and a Suezmax tanker, enhancing its revenue predictability amidst ongoing legal proceedings with FourWorld. The strategic fleet adjustments and legal developments are poised to influence Frontline’s operational and financial trajectory.
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