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Frontline plc (NYSE:FRO) Q2 2025 Earnings Conference Call August 29, 2025 9:00 AM ET
Company Participants
Inger Marie Klemp - Chief Financial Officer of Frontline Management AS
Lars H. Barstad - Chief Executive Officer of Frontline Management AS
Conference Call Participants
Omar Mostafa Nokta - Jefferies LLC, Research Division
Operator
Good day, and thank you for standing by. Welcome to the Second Quarter 2025 Frontline plc Earnings Conference Call.
[Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Lars Barstad, CEO. Please go ahead.
Lars H. Barstad
Thank you, Nicolas. Dear all, thank you for dialing into Frontline's quarterly earnings call.
Shipping and tankers from our vantage point is still in the eye of the storm in relation to global conflict and trade policies. We have started to grow numb in respect of our industry's ability to regulate the ever-increasing parallel tanker market, stealing margins from the law-abiding citizens of the tanker trade. But now we are hopefully seeing the contours of change. one being trade policy reflected in nation's behavior on crude sourcing and the simple fact that global oil demand growth has surpassed what sanctioned molecules can satisfy, meaning incremental oil demand and supply for that sake, its growth seems to benefit the compliant fleet being the market Frontline operates in.
So before I give the word to Inger, I'll run through our TCE numbers on Slide 3 in the deck. In the second quarter of 2025, Frontline achieved $43,100 per day on our VLCC fleet, $38,900 per day on our Suezmax fleet and $29,300 per day on our LR2/Aframax fleet. This is up from the first quarter of the year, but admittedly somewhat short of expectations. So far in the third quarter of '25, 82% of our VLCC days are booked at $38,700 per day, 76% of
