Frontline is predicting a recovery in vessel demand from next year as it announced its best first-half profit for 10 years.
The John Fredriksen-controlled tanker company's second-quarter net earnings hit $200m, from $1m a year ago, bringing the total for the first six months to $365m.
Revenue from its 71 ships in the three months to 30 June soared to $387m, versus $193m in the same period last year, due to "dramatic crude-oil demand correction, the likes of which we have never seen", the Oslo-listed company said.
