John Fredriksen's Frontline has turned in a loss during a challenging third quarter, but believes the current structure of the tanker fleet and the oil demand picture will soon give owners a boost.
Lars Barstad, chief executive of the Oslo-listed company, said the third quarter continued to be a challenging period for tanker owners.
"Global oil demand rose, but oil supply growth remained muted, resulting in one of the most demanding quarters on record for tankers," he said.
