John Fredriksen's Frontline has logged a big return to profit in the first quarter as rates jumped.
The tanker owner said net earnings to 31 March were $40.11m, against a loss of $13.55m in 2018.
Revenue grew to $238.27m from $169.62m as average spot daily time charter equivalent rates for VLCCs, suezmaxes and LR2/aframaxes reached $35,700, $28,200 and $24,000, respectively.
