Frontline plc. (FRO) Q4 2023 Earnings Call

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WEBVTT 00:00:00.029 -- 00:00:04.273 Thank you for dialing into Frontline's fourth quarter earnings call. 00:00:04.273 -- 00:00:09.537 The last quarter of 2023 did not deliver the full-on crazy 00:00:09.537 -- 00:00:14.642 off-the-hinges bull market we all wished for, but still gave us 00:00:14.642 -- 00:00:20.867 decent returns. We also started to take delivery of our BLCCs from Euronav in December, 00:00:20.867 -- 00:00:25.912 and we are very happy it's all been smooth sailing as they have come under the frontline 00:00:25.912 -- 00:00:30.977 flag. I would especially like to praise our project, technical, and operations 00:00:30.977 -- 00:00:33.799 teams that effortlessly 00:00:33.799 -- 00:00:38.382 and professionally have incorporated these vessels into our fleet, proving our company's 00:00:38.382 -- 00:00:41.585 very scalable business model. 00:00:41.585 -- 00:00:46.608 Before I give the word to Inger, let's look at our TCE numbers on slide three in the 00:00:46.608 -- 00:00:48.608 deck. 00:00:48.630 -- 00:00:53.012 In the fourth quarter, Frontline achieved $42,300 per day on our VOCC fleet, 00:00:55.290 -- 00:00:59.241 $45,700 per day and $42,900 per day 00:01:01.862 -- 00:01:04.663 on our LR2 00:01:04.663 -- 00:01:09.705 slash Afromax fleet. Both SUSEMAX and LR2 markets 00:01:09.705 -- 00:01:15.027 performing well above the previous quarters as they came to an end, 00:01:15.027 -- 00:01:21.508 as the year came to an end. As our press release shows, the full year 2023 came in firmly. 00:01:21.553 -- 00:01:24.454 as we earned $50,300, $52,600, and $46,800 per day on our VLCC through SMAC and AFROMAC 00:01:24.454 -- 00:01:26.875 slash LR2 fleets, respectively. 00:01:26.875 -- 00:01:29.916 I may add, we made over $650 million in full-year profit. 00:01:29.916 -- 0...