The John Fredriksen-fronted company saw its market value improve by a quarter this morning.
At the time of writing Frontline was trading at NOK 15 each, up 23.97% on the day.
Erik Nikolai Stavseth of Arctic Securities explains the surging VLCC market is making Frontline’s voyage towards its convertible bond maturity deadline easier by the day.
Only last month Frontline’s third quarter conference call was littered with questions about how the company would restructure ahead of the bond deadline.
Stavseth
