Fearnley Securities has cut tanker giant Frontline’s profit estimate for the fourth quarter as analysts noted a new rates pattern for VLCCs.

The John Fredriksen company releases financial figures for the third quarter on Wednesday.

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Fearnley analysts Fredrik Dybwad and Nils Thommesen said that due to overall market developments and forward bookings already revealed by other tanker owners, fourth-quarter earnings-per-share forecasts for Frontline have been reduced to $0.41,