Norway's Frontline has returned to profit in the second quarter as revenue rose in a "compelling" tanker market.
Net earnings were $1.08m to 30 June, from a $22.86m loss a year ago.
Revenue grew from $166.82m to $193.4m over the same period.
The average spot daily time charter equivalent (TCE) rates for VLCCs, suezmaxes and LR2/aframaxes were $25,600, $16,200 and $18,100 respectively, lower than in the first quarter but above break-even for all but the suezmaxes.
