Oslo over-the-counter (OTC) listed Frontline 2012 is tipped to have purchased as much as $100m worth of its own stock since it initiated its buyback plan in May.
Erik Nikolai Stavseth of Arctic Securities says during the second and third quarters as many as 16 million shares may have been picked up on the open market.
“Frontline 2012 sees no need to add more tonnage as the cheapest ships are available through their own share price,” the analyst added.
The
