Frontline plc. (FRO) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

and thank you for standing by. Welcome to the Q1 2026 Frontline PLC Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press power 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press power 1 and 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Mr. Lars Barset, CEO. Please go ahead. Thank you. Dear all, I thank you for dialing into Frontline's quarterly earnings call. Unprecedented times springs to mind as we report in Q126, well into the first half of the year. I've been in this industry for more than 20 years, and I did not imagine us in a situation for this duration where the straight-to-formers has been effectively closed. With the opaque and volatile political narrative these days, the frontline team focus on the real, cash-generating business to be done, not speculating too far into the future. We have put the most profitable quarter since 2004 behind us, and are well into a potentially even more rewarding one. I'll get back to how we analyze the situation between the call, And before I give the word to Inger, I'll run through our TCN numbers on slide three in the deck. In the first quarter of 2026, Frontline achieved $103,500 per day on our B2C fleet, $72,400 per day on our SUSEMAC fleet, and $50,700 per day on our LR2 slash AFROMAC fleet. So far in the second quarter of 2026, 82% of our VLCC days are booked at $181,700. 79% of our SUSE max days are booked at $131,300 per day. And 68% of our LA2 slash AFRA max days are booked ...