Frontline Plc - Company Profile
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Frontline Plc (Frontline) is a shipping company that transport crude oil and refined petroleum products. The company owns and operates very large crude carriers (VLCCs), Suezmax tankers and Aframax tankers. Its vessels operate in the spot and time charter markets. Frontline’s VLCCs and Suezmax tankers are used to transport crude oil, while Aframax tankers are used to transport mainly refined products, and also fuel and crude oil from smaller ports. Frontline also carries out charter, purchase and sale of vessels. It operates oil and product tankers in Cyprus, India, Liberia, the Marshall Islands, Norway, Bermuda, the UK, China and Singapore. Frontline is headquartered in Hamilton, Bermuda.
Headquarters
Cyprus
Address
Limassol, 3106
Website
www.frontline.bm
No of Employees
78
Industry
Energy and Utilities
Ticker Symbol & Exchange
FRO (NYSE)
Revenue (2022)
$1.4B
90.9%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
3278.5%
(2022 vs 2021)
Market Cap*
$5.4B
Net Profit Margin (2022)
XYZ
1,762.5%
(2022 vs 2021)
* As of and is in US$
Frontline Plc premium industry data and analytics
Products and Services
| Services |
|---|
| Charter |
| Transportation |
| Shipping |
| XYZ |
| XYZ |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2024 | Contracts/Agreements | In January, the company signed an agreement to sell its five VLCCs for US$290 million. |
| 2023 | Plans/Strategy | In October, the company announced its plans to acquire 24 VLCC Tankers from Euronav. |
| 2023 | Others | In January, the company terminated its merger with Euronav NV. |
Competitor Comparison
| Key Parameters | Frontline Plc | Teekay Corp | Teekay Tankers Ltd | Tsakos Energy Navigation Ltd | Seapeak LLC |
|---|---|---|---|---|---|
| Headquarters | Cyprus | Bermuda | Bermuda | Greece | Bermuda |
| City | Limassol | Hamilton | Hamilton | Athina | Hamilton |
| No. of Employees | 78 | 2,100 | - | - | 2,480 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Ola Lorentzon | Chairman | Executive Board | 2021 | 73 |
| Lars H. Barstad | Chief Executive Officer - Frontline Management AS; Director - Commercial | Senior Management | 2020 | 52 |
| Inger M. Klemp | Chief Financial Officer - Frontline Management AS | Senior Management | 2006 | 60 |
| Lars Pederson | Chief Technology Officer - Frontline Management AS | Senior Management | - | - |
| John Fredriksen | Director | Non Executive Board | 1997 | 78 |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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