Tankship Operators Frontline Warn of Restructuring

Posted by George Backwell
Tuesday, May 27, 2014
Photo courtesy of Frontline

Oil tanker firm Frontline reported first quarter earnings below expectations on Tuesday and said that unless markets improve, it may need to restructure to repay debt.

Frontline, the tanker arm of shipping tycoon John Fredriksen, said it made a net loss of $12.1 million in the first quarter, trailing expectations for a $4 million loss in a Reuters poll of analysts.

(By Balazs Koranyi)
 

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