EnergyWatch

Frontline books large deficit for 2017

2017 was a tough year for crude oil tankers, and this is clearly reflected in the annual report from Norway's Frontline. The challenges in 2017 could turn into an advantage by the end of this year, says CEO Robert Hvide Macleod.

Photo: Frontline

Frontline's results for 2017 clearly reflect the dire business environment through which crude oil tankers found themselves navigating last year.

The tanker shipping company, controlled by John Fredriksen, reports a 2017 revenue of USD 646.3 million, down from USD 754.3 million in 2016, shows the annual report Wednesday.

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