Frontline locks in $235m VLCC windfall as rates hit 15-year high

CLAVE 1 / 4Frontline has fixed four VLCCs into term charters, securing rates of up to $120,000 per day.

CLAVE 2 / 4The deals represent roughly $235m of gross contracted hire across the fixtures.

CLAVE 3 / 4Two newly delivered VLCCs were chartered for one year each at the peak rate of $120,000 per day.

CLAVE 4 / 4Frontline’s second-quarter profit surged to a record $659.2m, driven by soaring spot rates.

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