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| Tue 12:06 | HUG |
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FRO - Invitation to presentation of Q3 2009 Results Frontline Ltd.'s third quarter 2009 results will be released on Friday November 27, 2009. In connection with this a presentation and a teleconference/webcast will be held as described below: 1. Presentation A presentation of Frontline Ltd.'s third quarter 2009 results will take place in Oslo at Stranden 21 (DnB NOR building at Aker Brygge) on Friday November 27, 2009 at 08:30 A.M. If you wish to attend please confirm to our Reception at +47 23 11 40 00 or by email to ir@frontmgt.no. 2. Teleconference and webcast A conference call will be held at 03:00 P.M. Central European Time (9:00 A.M. EST) on Friday November 27, 2009. The presentation will be available for download from the Investor Relations section at www.frontline.bm Friday morning. In order to listen to the conference call you may do one of the following: a. Webcast Go to the Investor Relations section at www.frontline.bm and click the "Webcast" link. To listen to the conference call from the web, you need to have installed Windows Media Player, and you need to have a sound card on your computer. b. Conference Call
PARTICIPANTS DIAL IN TELEPHONE NUMBERS
Participants will be asked for their full name & Conference ID. The Conference ID is 5508482. There will be a Q&A session after the presentation. Information on how to ask questions will be given at the beginning of the Q&A session. Please download the presentation material from www.frontline.bm in order to follow the presentation slides while listening to the conference.
ENCORE DETAILS
Encore Replay Access Number: 5508482#
0498
Participant information required: Full Name & Company This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement. More |
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| 13-11-09 | AFX UK Focus |
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Nov 13 (Reuters) - FBR Capital Markets upgraded its outlook for tankers to "overweight" on expectations that the supply of vessels will fall in tune with the demand in 2010 with the phasing out of single-hull vessels and a shifting seaborne transportation landscape.
(Reporting by Swati Pandey in Bangalore; Editing by Anil D'Silva) ((swati.pandey@thomsonreuters.com; Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780, +91-22-6636-9123, Reuters Messaging: swati.pandey.reuters.com@reuters.net)) Keywords: TANKERS/RESEARCH FBR (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 13-11-09 | AFX UK Focus |
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Stocks on the move Real-time Equity news U.S. stock market report 0747 EST 13Nov2009-FBR upgrades tanker sector to "overweight" ------------------------------------------------------------------------------ FBR Capital Markets on Friday upgraded the tanker sector to "overweight," expected "marked improvement in the supply/demand balance in 2010." The firm expects day rates for very large crude carriers to increase from $29,000 in 2009 to $37,000 in 2011. As part of its call, FBR upgraded Frontline Ltd to "outperform," saying the company was "best positioned to capture the coming strength." Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0738 EST 13Nov2009-Futures up ahead of data on consumers ------------------------------------------------------------------------------ U.S. stock index futures were up on Friday, following a sell-off in Thursday's session, as investors awaited data on consumer spending. Some positive corporate earnings results, including from Dow component Walt Disney Co late Thursday, also lifted sentiment. For details, see Dow Jones industrial average futures rose 11 points while S&P 500 futures gained 2.9 points and Nasdaq 100 futures were up 3.25 points. Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0734 EST 13Nov2009-Dollar General IPO prices at low end of range ------------------------------------------------------------------------------ Dollar General Corp late Thursday priced shares in its initial public offering at $21 each, the low end of an expected range. The discount retailer, which is almost entirely owned by private equity firm Kohlberg Kravis Roberts & Co, had expected the shares to sell for between $21 and $23 each. Dollar General and KKR sold a total of 34.1 million shares, yielding gross proceeds of $716.1 million in the IPO. For details, see Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0727 EST 13Nov2009-Dell to introduce smartphone based on Android ------------------------------------------------------------------------------ Dell Inc said on Friday it will sell smartphones equipped with Google Inc's Android mobile software. The company plans to sell its new Mini 3 smartphones through Claro, part of the America Movil network, and China Movil. Details on the phones will be announced when the devices are available in stores around late November for China Mobile and around the end of the year for Claro, it said. Shares of Dell closed Thursday at $15.45. Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0724 EST 13Nov2009-Bain in $1.1 bln deal for Citi Bellsystem: source ------------------------------------------------------------------------------ Bain Capital is finalizing a roughly $1.1 billion deal to buy Citigroup's Bellsystem 24 unit, three sources familiar with the matter said. It would be the largest buyout by a foreign private equity firm in Japan in nearly two years. Bellsystem 24 is Citigroup's Japanese telemarketer division. For details, see Shares of Citi rose 2 cents to $4.08 in premarket trading. Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0721 EST 13Nov2009-Crude oil edges higher as dollar slips ------------------------------------------------------------------------------ December crude futures edged higher on Friday, lifted by renewed weakness in the U.S. dollar, though rising fuel inventory levels limited gains. For details, see The stock was up 0.2 percent to $77.05 per barrel. Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0716 EST 13Nov2009-Liberty Global to buy Unitymedia for $5.2 bln ------------------------------------------------------------------------------ Liberty Global on Friday agreed to buy Unitymedia from a private equity group for $5.2 billion. The sale by a shareholder group led by BC Partners and Apollo comprises $3 billion in equity and $2.2 billion in debt, and is the largest private-equity exit in Europe this year. For details, see Shares of Liberty closed Thursday at $23.10. Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 07-10-09 | HUG |
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FRO - Appointment of Director and share incentive program 2009 The Board of Frontline Ltd. ("Frontline" or the "Company") is pleased to announce the appointment of Tony Curry as a Director to fill in a vacancy on the Board. Mr. Curry retired from Shell in May 2009 having spent 40 years in Shell Shipping. For the past 12 years he was the Time Charter & Sale and Purchase Manager. Prior to this he spent seven years in Shell Western Services, Nassau, Bahamas as the Oil Freight Manager. He is very familiar with the international oil and tanker sector, but also the growing LNG and LPG areas. Mr. Curry is very well known and respected in the Shipping Industry worldwide. The Company further announces that the existing Share Option Scheme of the Company is being cancelled and share options will be granted to the Board of Directors, senior management and other employees pursuant to a new Share Option Scheme approved by the Company in general meeting on September 25, 2009. A total of 663,000 new options will be granted while all of the 618,000 previously awarded options to the Board of Directors, senior management and other employees will be cancelled. The new options will have a five-year term and will vest equally one third each year over a three-year vesting period. Out of the total number of options 350,000 have been awarded to primary insiders, the allocation of these is set out in the attached file. The strike price for the new options has been set to NOK 145.00 per share. The purpose of the new Share Option Scheme is to promote long-term employment and align the long-term interest of shareholders and senior employees. October 7, 2009 The Board of Directors Frontline Ltd. Hamilton, Bermuda http://hugin.info/182/R/1346204/323313.pdf This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement. More |
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| 28-09-09 | HUG |
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FRO - 2009 Annual General Meeting Frontline Ltd. (the "Company") advises that the 2009 Annual General Meeting of the Company was held on September 25, 2009 at 10:00 a.m. at the Elbow Beach Hotel, 60 South Shore Road, Paget PG04, Bermuda. The following resolutions were passed:
eight.
vacancies and that the Board of Directors be authorized to fill such casual vacancies as and when it deems fit.
rules of which allow the Company to offer eligible persons the right (but not obligation) to subscribe for shares in the Company (an "Option") at a price fixed at the date of granting the Option although the Option could be exercised at some date in the future in accordance with the terms of the Share Option Plan and the specific terms applied at the date of grant.
auditors and to authorise the Directors to determine their remuneration
Directors of a total amount of fees not to exceed US$400,000.00 be approved for the year ended December 31, 2009. In addition, the audited consolidated financial statements for Frontline Ltd. for the year ended December 31, 2008 were presented to the Meeting. Hamilton, Bermuda September 25, 2009 This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement. More |
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| 09-09-09 | HUG |
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FRO - Dividend information We refer to the second quarter 2009 report released on August 28, 2009. Frontline Ltd. is trading ex-dividend of a cash dividend of USD 0.25 per share today September 9, 2009. The record date is September 11, 2009, and the dividend will be paid on or about September 24, 2009. For further information about the company please visit our web-site: www.frontline.bm Frontline Ltd. Bermuda September 9, 2009 This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement. More |
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| 31-08-09 | HUG |
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FRO - Notice of Annual General Meeting 2009 Frontline Ltd. (the "Company") announces that its 2009 Annual General Meeting will be held on September 25, 2009. A copy of the Notice of Annual General Meeting and associated information including the Company's Annual Report on Form 20-F can be found on our website at http://www.frontline.bm and attached to this press release. August 31, 2009 The Board of Directors Frontline Ltd. Hamilton, Bermuda http://hugin.info/182/R/1338211/319208.pdf http://hugin.info/182/R/1338211/319209.pdf This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement. More |
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| 28-08-09 | HUG |
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FRO - Q2 2009 Presentation Please find enclosed the presentation of Frontline Ltd.'s second quarter and six months 2009 results, held in the morning on Friday August 28, 2009. Frontline Ltd. August 28, 2009 http://hugin.info/182/R/1337876/318984.pdf This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement. More |
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| 28-08-09 | AFX UK Focus |
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HELSINKI, Aug 28 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Friday: SEADRILL
FRONTLINE
JYSKE BANK
ROYAL CARIBBEAN CRUISES
(Helsinki Newsroom; +358-9-6805-0244)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 28-08-09 | AFX UK Focus |
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Aug 28 (Reuters) - Oil tanker shipping group Frontline reported the following daily time-charter rates
by segment for the second quarter. (dollars per day):
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 28-08-09 | AFX UK Focus |
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Aug 28 (Reuters) - Three months to end-June
NOTES - Full name of the Bermuda-registered Norwegian oil tanker shipping group, listed in Oslo and New York, is Frontline Ltd.
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 28-08-09 | HUG |
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FRO - Second Quarter and Six Months 2009 Results Highlights
Second Quarter and Six Months 2009 Results The Board of Frontline Ltd. (the "Company" or "Frontline") announces net income attributable to the Company of $27.8 million for the second quarter of 2009, equivalent to earnings per share of $0.36, compared with net income attributable to the Company of $76.6 million and earnings per share of $0.98 for the preceding quarter. Net operating income in the second quarter was $62.1 million compared with $111.0 million in the preceding quarter.
The reported earnings reflect a weaker spot market. The average daily
time charter equivalents ("TCEs") earned in the spot and period
market in the second quarter by the Company's VLCCs, Suezmax tankers
respectively, in the preceding quarter. The spot earnings for the Company's double hull VLCCs and Suezmax vessels were $38,700 and $24,400, respectively, in the second quarter of 2009, compared with $56,200 and $38,300, respectively, in the preceding quarter. Profit share expense of $8.0 million has been recorded in the second quarter as a result of the profit sharing agreement with Ship Finance International Limited ("Ship Finance") compared to $14.5 million in the preceding quarter. Ship operating expenses increased by $2.2 million compared with the preceding quarter primarily as a result of increased dry docking costs. Charterhire expenses decreased by $6.8 million in the second quarter compared with the preceding quarter due to the weaker spot market, which has resulted in reduced expenses on floating rate charters and profit share payments on two vessels. Interest income was $5.6 million in the second quarter, of which $5.0 million relates to restricted deposits held by subsidiaries reported in Independent Tankers Corporation Limited ("ITCL"). Interest expense, net of capitalized interest, was $40.1 million in the second quarter of which $10.3 million relates to ITCL. Frontline announces net income attributable to the Company of $104.4 million for the six months ended June 30, 2009, equivalent to earnings per share of $1.34. The average daily TCEs earned in the spot and period market in the six months ended June 30, 2009 by the Company's VLCCs, Suezmax tankers and Suezmax OBO carriers were $44,200, $32,300 and $43,500, respectively, compared with $84,300, $61,100 and $43,600, respectively, in the six months ended June 30, 2008. The spot earnings for the Company's double hull VLCCs and Suezmax vessels were $47,600 and $31,600, respectively, in the six months ended June 30, 2009. As of June 30, 2009, the Company had total cash and cash equivalents of $628.3 million, which includes $507.7 million of restricted cash. Restricted cash includes $317.4 million relating to deposits in ITCL and $189.6 million in Frontline, which is restricted under the charter agreements with Ship Finance. In August 2009, the Company has average total cash cost breakeven rates on a TCE basis for VLCCs and Suezmaxes of approximately $31,900 and $25,200, respectively. Corporate On August 27, 2009, the Board declared a dividend of $0.25 per share. The record date for the dividend is September 11, 2009, ex dividend date is September 9, 2009 and the dividend will be paid on or about September 24, 2009. 77,858,502 ordinary shares were outstanding as of June 30, 2009, and the weighted average number of shares outstanding for the quarter was 77,858,502. The full report is available for download in the link enclosed. The Board of Directors Frontline Ltd. Hamilton, Bermuda August 27, 2009 Questions should be directed to:
Jens Martin Jensen: Chief Executive Officer, Frontline Management AS
Inger M. Klemp: Chief Financial Officer, Frontline Management AS
Forward Looking Statements
statements are based upon various assumptions, many of which are
management's examination of historical operating trends. Although
Frontline believes that these assumptions were reasonable when made,
uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, Frontline cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions. Important factors that, in the Company's view, could cause actual results to differ materially from those discussed in this press release include the strength of world economies and currencies, general market conditions including fluctuations in charter hire rates and vessel values, changes in demand in the tanker market as a result of changes in OPEC's petroleum production levels and world wide oil consumption and storage, changes in the Company's operating expenses including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, and other important factors described from time to time in the reports filed by the Company with the United States Securities and Exchange Commission. http://hugin.info/182/R/1337836/318956.pdf This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement. More |
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| 28-08-09 | AFX UK Focus |
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HELSINKI, Aug 28 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Friday: SEADRILL
FRONTLINE
(Helsinki Newsroom; +358-9-6805-0244) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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