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FRO – Time Charter-Out Contracts for Seven VLCCs
Globenewswire· 2026-01-23 21:20
Core Viewpoint - Frontline plc has entered into one-year time charter-out agreements for seven of its VLCCs at a rate of $76,900 per day per vessel, with charters commencing between late-January and April 2026 [1][2]. Group 1 - The charter rates of $76,900 per day per vessel represent levels not seen for decades, indicating a significant market opportunity [2]. - The company remains largely spot exposed after these contracts become effective, which allows for potential upside in a volatile market [2].