Frontline today shrugged off concerns about the lifting of sanctions against Iran damaging the strong crude tanker market.
Chief executive Robert Hvide Macleod says Iran is using its own vessels to export around one million barrels of oil per day and could need to take in international tankers to support its growing shipment needs.
“This fear of the fleet coming into the spot market, I’m not so concerned,” Macleod said during the owner’s third quarter conference call today.
