{
  "id": 4039609,
  "title": "Frontline Reports Record Quarterly Profits",
  "url": "https://urgent.news/2026/08/28/frontline-reports-record-quarterly-profits",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-28T21:00:47.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/frontline-reports-record-quarterly-profits/"
  },
  "original_language": "en",
  "account": "Frontline plc announced its unaudited financial results for the second quarter of 2026, revealing record profits. The company reported a best-ever quarterly profit of $659.2 million, or $2.96 per share, and adjusted profit of $580.2 million, or $2.61 per share. Shareholders received a cash dividend of $2.61 per share. Revenues for the quarter totaled $943.3 million. Frontline's VLCCs, Suezmax tankers, and LR2/Aframax tankers achieved average daily spot time charter earnings of $152,700, $111,500, and $92,400, respectively. The company reduced financing costs by 52 basis points, bringing the weighted average interest rate margin down from 178 bps to 126 bps. Frontline sold two 2017-built VLCCs for $270.0 million, returning $179.0 million to shareholders as a special one-time dividend. Two oldest Suezmax tankers from 2014 and 2015 were delivered in the second quarter, resulting in a $54.7 million gain from their sale. Frontline secured two one-year time charter-out agreements for new VLCCs, and two other VLCCs with longer-term contracts. CEO Lars H. Barstad emphasized the volatility in the energy sector and Frontline's focus on capturing near-term shareholder value. CFO Inger M. Klemp highlighted successful refinancing efforts and maintaining a strong balance sheet for future growth.",
  "summary": "Frontline plc Friday reported unaudited results for the six months ended June 30, 2026: Highlights • Reported the best quarterly profit ever of $659.2 million, or $2.96 per share for the second quarter of 2026 and the best adjusted profit ever of $580.2 million for the second quarter of 2026, or $2.61 per share. • ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}