Frontline’s VLCCs ‘still hold the key’ to earnings, DNB says

VLCCs are still the key to Frontline’s earnings, DNB says in a research note.

So far this year, VLCC rates have been “relatively unexceptional”, in line with the 10-year average, according to the Norwegian bank. Instead, strong midsize tanker rates have supported earnings.

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But DNB believes VLCC markets will improve.