Shippers, including Frontline, express serious worries about U.N. agreement on ship fuel emissions.
Written by Emily J. Thompson, Senior Investment Analyst
Source: SeekingAlpha
Shipping Companies' Concerns: A coalition of major shipping firms, including Frontline, has raised "grave concerns" about the proposed Net Zero Framework by the IMO, arguing it may not effectively support maritime decarbonization or ensure fair competition, and calling for critical amendments before adoption.
Freight Rate Surge: Freight rates for Very Large Crude Carriers have reached their highest levels in over two years due to tightening tanker supply and increased Middle East exports, with the key spot rate for the Middle East to China route hitting W108, equivalent to at least $6.6 million.
Analyst Views on FRO
Wall Street analysts forecast FRO stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for FRO is 23.45 USD with a low forecast of 14.36 USD and a high forecast of 30.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
0 Hold
1 Sell
Moderate Buy
Current: 26.370
Low
14.36
Averages
23.45
High
30.00
Current: 26.370
Low
14.36
Averages
23.45
High
30.00
About FRO
FRONTLINE PLC is a Cyprus-based company primarily operating in the transportation sector. The Company's main focus is on seaborne transportation of crude oil and refined products. The Company owns and operates a fleet consisting of multiple VLCC, Suezmax and LR2 / Aframax tankers intended for freight of oil and cargo. The Company operates worldwide.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
