News
Hormuz Chaos Is Paying Tankers $156,900 A Day
Frontline (FRO) reported a record Q2 earnings of $659.2 million, with supertanker rates averaging $156,900 per day, up from $152,700 last quarter and $43,100 a year earlier. The dividend was $2.61 per share (~4.4% yield at $59 price). CEO Lars Barstad cited geopolitical risks in the Strait of Hormuz, Red Sea and Black Sea driving higher rates. Analyst Steve Strazza highlighted a 600% gain on FRO call options. The stock broke a decade-long bottom, surpassing the $40 ceiling, and analysts project potential 5× upside toward $300 per share.