Frontline plc has released its unaudited results for the nine months ending September 30, 2023. The highlights include a profit of $107.7 million for Q3 2023, an announced cash dividend of $0.30 per share, and reported revenues of $377.1 million. Additionally, Frontline has entered into agreements to purchase 24 VLCCs from Euronav, increasing its tanker footprint by over 30%. The company closed the sale of 13.7 million Euronav shares and secured financing through a senior secured term loan facility and a shareholder loan for the acquisition. The report also anticipates lower spot TCEs for Q4 2023 due to ballast days at the end of Q3.

SOURCE: GOOGLE