Frontline Ltd. (FRO) 🚢

[pg-san]

Payment date: On or about 22 June, 2020

[Krosta]

Ca 22. juni. Man må eie aksjen 2. juni for å ha rett på utbytte.

[TekBot]

FRO - Q1 2020 Presentation

Please find enclosed the presentation of Frontline Ltd.'s first quarter 2020
results to be held on the webcast / conference call 20 May, 2020 at 15:00 CET.

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This information is subject to the disclosure requirements pursuant to section
5 -12 of the Norwegian Securities Trading Act.

Kilde

[Trondyman]

Solid løft i dag, og FRO er betydelig opp i US i kveld. Duket for nytt sprang mot utbyttedato?

[Trondyman]

Nytt løft i tankrater +54 og nytt kursmål på 98 fra DnB. Nytt løft på FRO?

[zappa66]

Går ex utbytte på 0.7 $ i morgen

[zappa66]

På tross av fallende rater i dag slutter Fro omtrent på HOD i US i dag, og fortsetter opp i etterhandelen.
Opp

fra close i Oslo

[TekBot]

Ex utbytte USD 0,70 i dag

Aksjene i Frontline Ltd. noteres ex utbytte USD 0,70 fra og med i dag, 03.06.2020
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Kilde

[TekBot]

Ex utbytte USD 0,70 i dag

Aksjene i Frontline Ltd. noteres ex utbytte USD 0,70 fra og med i dag, 03.06.2020
…

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Kilde

[TekBot]

FRO - Announces Launching of ATM Equity Offering

Frontline Ltd. (NYSE: FRO) (“Frontline” or the “Company”) today announced the
Company entered into an Equity Distribution Agreement dated June 3, 2020, with
Morgan Stanley & Co. LLC (“Morgan Stanley”) for the offer and sale of up to
…

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$100.0 million of common shares of Frontline.

In accordance with the terms of the Equity Distribution Agreement, the Company
may offer and sell its common shares at any time and from time to time through
Morgan Stanley as its sales agent. Sales of the common shares, if any, will be
made by means of ordinary brokers’ transactions on NYSE or otherwise at market
prices prevailing at the time of sale, at prices related to the prevailing
market prices, or at negotiated prices.

The net proceeds of this offering will be used to opportunistically fund growth
opportunities and for general corporate purposes.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy securities and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
The offering is being made by means of a prospectus and related prospectus
supplement. A prospectus supplement related to the offering has been filed with
the Securities and Exchange Commission. Copies of the prospectus and prospectus
supplement relating to the offering may be obtained from the offices of Morgan
Stanley at 180 Varick Street, Second Floor, New York, New York 10014, Attention:
Prospectus Department.

June 3, 2020

The Board of Directors
Frontline Ltd.
Hamilton, Bermuda

Questions should be directed to:

Robert Hvide Macleod: Chief Executive Officer, Frontline Management AS
+47 23 11 40 84

Inger M. Klemp: Chief Financial Officer, Frontline Management AS
+47 23 11 40 76

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Matters discussed in this document may constitute forward-looking statements.
The Private Securities Litigation Reform Act of 1995 provides safe harbor
protections for forward-looking statements in order to encourage companies to
provide prospective information about their business. Forward-looking
statements include statements concerning plans, objectives, goals, strategies,
future events or performance, and underlying assumptions and other statements,
which are other than statements of historical facts.

Frontline desires to take advantage of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The words “believe,”
“anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,”
“will,” “may,” “should,” “expect,” “targets,” “likely,” “could,” “seeks,”
“continue,” “possible,” “pending” and similar expressions identify forward-
looking statements.

The forward-looking statements in this document are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, management’s examination of historical operating
trends, data contained in Frontline’s records and other data available from
third parties. Although Frontline believes that these assumptions were
reasonable when made, because these assumptions are inherently subject to
significant uncertainties and contingencies which are difficult or impossible to
predict and are beyond Frontline’s control, you cannot be assured that Frontline
will achieve or accomplish these expectations, beliefs or projections. Frontline
undertakes no duty to update any forward-looking statement to conform the
statement to actual results or changes in expectations.

Important factors that, in Frontline’s view, could cause actual results to
differ materially from those discussed in the forward-looking statements
include, without limitation: the strength of world economies and currencies,
general market conditions, including fluctuations in charterhire rates and
vessel values, changes in demand in the tanker market, including but not limited
to changes in OPEC’s petroleum production levels and worldwide oil consumption
and storage, the anticipated global economic uncertainty and financial market
conditions caused by the COVID-19 pandemic, changes in Frontline’s operating
expenses, including bunker prices, drydocking and insurance costs, the market
for Frontline’s vessels, availability of financing and refinancing, ability to
comply with covenants in such financing arrangements, failure of counterparties
to fully perform their contracts with us, changes in governmental rules and
regulations or actions taken by regulatory authorities, potential liability from
pending or future litigation, general domestic and international political
conditions, potential disruption of shipping routes due to accidents or
political events, vessel breakdowns, instances of off-hire and other important
factors. For a more complete discussion of these and other risks and
uncertainties associated with Frontline’s business, please refer to Frontline’s
filings with the Securities and Exchange Commission, including, but not limited
to, its annual report on Form 20-F.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act. ?

Kilde

[zappa66]

Påan igjen med soft emisjon. Samme som i fjor

[Krosta]

CEO sin kommentar til dagens børsmelding:

I reached out to the CEO of Frontline $FRO and asked about the equity offering. He said, “We announced with Q1 that we would do this. For the toolbox, historically we basically have always had this. Absolutely no plans to use at this level!”

https://twitter.com/ClassicValueInv/status/1268189676646662146

Ferskt intervju med Robert Macleod
https://www.youtube.com/watch?v=2sVtx6MMnXU&t=1s

[Mythrox]

Det er da ikke en emisjon, det er snakk om salg av egne aksjer, det er ikke innhenting av ny kapital, bare bytte aksjer mot rene penger. Mulig det er det du kaller soft-emisjon kanskje, men det er jo ikke en utvanning.

[Krosta]

Tok noen raske notater fra intervjuet med Robert Macleod over her.

Han trodde sommeren skulle bli ratefest. Men det skjedde ikke på grunn av høyere demand og raskere kutt enn forventet.

Men juni 2020 ligger an til å bli den beste juni-måneden siden 2015. Gjennomsnittsratene kommer til å bli bedre enn hva mange av de pessimistiske analytikerne tror. Forvent mye volatilitet i rater framover.

Aksjekursen er lav pga den store volatiliteten i ratene og aksjekursene . Folk blir redde. Hvis «average earnings» var 25% lavere i H1 2020, men mye mer stabile. Ville ikke Macleod vært overrasket om aksjekursen var 25% høyere

Floating storage kommer sannsynligvis til å peake rundt denne tiden. Anslår at 8-10% av VLCCer blir brukt til lagring i dag. Under normale forhold ligger omtrent 5% av flåten som lagring.

Positiv til oljedemand og et normalt marked til høsten. De locker inn en del båter rundt 50k til Q3 i disse dager. Forventer at Q3 2020 blir bedre enn Q319 som var på 36k. Tror at Q4 blir en del bedre enn Q3.

Forventer nå (i motsetning til tidligere utsagn før på året) scraping i år. 80-90% av cargoes har en preference på max 15 år gamle skip. Kan bli vanskelig for gamle skip å få jobb i Q3.

Hvorfor FRO fokuserer på utbytte i stedet for å betale tilbake på gjelden

• Beste gjeldsgraden i selskapets historie
• Yngste flåten i selskapets historie
• Fredriksen – tilgang til kapital
• Cash Breakeven 18 700 USD
• Lav ordrebok er positivt for framtidig inntjening

Om IMO 2020:
FRO hedget IMO 2020 med å installere scrubbere på 50% av båtene. Forventer at scrubberne er nedbetalt i 2022. IMO 2020 ble ikke så merkbart som de forventet. Oljeraffineriene var bedre rustet til å produsere lav sulfur enn hva man kunne forvente.

Det er supply siden av skip som kommer til å være positivt for tank-markedet framover. Om det ikke blir en super-cycle den neste tiden forventer i hvert fall Macleod «decent earnings». Macleod tror ikke at man vil få ordrebok på 50% av flåten slik man så i 2008 neste gang man er på toppen av cyclen. FRO foretrekker å kjøpe skip som allerede er på vannet i stedet for å bestille nye.

Han er fremdeles overbevist om at ratene ikke skal ned til 15-20k med det første. Risk/reward i FRO er for øyeblikket «pretty decent».

[zappa66]

Selskapet utsteder nye aksjer som blir solgt i markedet når det passer FRO. Er ikke det emisjon?

Her er link til når de avsluttet den forrige runden
https://newsweb.oslobors.no/message/486750

[Krosta]

Synes soft-emisjon var en veldig passende beskrivelse jeg.

[TekBot]

FRONTLINE Ltd.

Robert Hvide Macleod, CEO of Frontline Management AS, has on 11 June 2020 purchased 50,000 shares in Frontline Ltd. (“Frontline”) at a price of NOK 74.57 per share. Following this purchase Mr Macleod owns 1,050,000 shares in Frontline.
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Kilde

[E24Bot]

Spetalen shorter Fredriksen-rederiet Frontline

Spetalen shorter Fredriksen-rederiet Frontline

[E24Bot]

Spetalen er ute av shortregisteret til Fredriksen-rederiet Frontline

Spetalen er ute av shortregisteret til Fredriksen-rederiet Frontline

[E24Bot]

Spetalen dukker opp med veddemål mot Frontline – igjen

Spetalen dukker opp med veddemål mot Frontline – igjen