Wednesday, January 14, 2009

Charter Rates To Fall at Frontline Ltd

Crude oil transporter Frontline Ltd (FRO-$29.91) said oil traders have chartered 25 vessels and may take as many as 10 more in order to store crude for future sales at sea, according to Bloomberg Press. The news suggests that average world oil production is still exceeding demand, which will likely weaken spot charter rates over the next twelve months…. Read More….

Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.

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