Frontline plc. (FRO) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the third quarter 2025 Frontline Earnings Conference Call and Webcast. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be the question and answer session. To ask a question during the session, you need to press star, one, one on your telephone keypad. You will then hear an automated message advising your hand is raised. To withdraw a question, please press star, one, and one again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to our first speaker today, Lars Barstad, CEO. Please go ahead, sir. Thank you very much. Dear all, thank you for dialing in to Frontline's quarterly earnings call. It's noticeable how everyone at Frontline and in the general tanker industry, for that sake, walks with an energetic spring in their steps these days. We have previously argued that this market owes us money, and we have finally started to correct I'll try not to jinx it by using caps lock on absolutely everything, but it is a mild understatement that we are positively excited by the development in this market that started to materialize during the third quarter of the year. Before I give the word to Inger, I'll run through our TC numbers on slide three of the deck. In the third quarter of 2025, Frontline achieved $34,300 per day, on our VLCC fleet, $35,100 per day on our SUSEMAC fleet, and $31,400 per day on our LR2-FRMAC fleet. So far in the third quarter of 25, we have looked 75% of our VLCC days at $83,300 per day. 75% of our SUSE max days at $60,600 per day, and 51% of our LR2 slash AFRA max days at $42,200 per day. Again, all numbers in this table are on a low to discharge basis with the implication of ballast days ...