Reports Q4 revenue $352.8M vs. $208.8M last quarter. The company said, "Highest quarterly net income since 2008 – $240.0 million – Cash dividend of $1.07 for Q3 and Q4 2022; Took delivery of the three remaining VLCC newbuildings from HHI, sold one VLCC and one Suezmax tanker, both 2009 builds; China took centerstage in the fourth quarter, imports back to pre covid levels; Oil demand continue to recover, limited fleet supply and increasing ton-mile demand key drivers for the years to come; Frontline’s efficient and transparent business model – generating shareholder returns!"
Published first on TheFly
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