John Fredriksen’s Frontline saw its stock spike in Oslo on Monday after an upgrade from Pareto Securities, which believes a decisive turning point in the tanker market is pending.
Frontline, which has experienced a strong share-price performance this year, saw almost 7% added to its market value this morning after Pareto raised its rating to buy.
Analysts Eirik Haavaldsen and Wilhelm Flinder suggested any retreat in VLCC rates was likely to be temporary.
