Frontline plc (0REH)

Profile

https://www.frontlineplc.cy

Frontline plc is a leading shipping company specializing in the seaborne transportation of crude oil and refined oil products worldwide. Headquartered in Limassol, Cyprus, and founded in 1985, it operates one of the largest oil tanker fleets globally, ranking among the top by capacity with 81 vessels as of December 31, 2024, including 41 very large crude carriers (VLCCs), 22 Suezmax tankers, and 18 LR2/Aframax tankers. The company engages in owning, chartering in, purchasing, and selling these specialized vessels to facilitate the efficient movement of energy cargoes across key maritime routes amid volatile freight markets. Controlled by billionaire John Fredriksen through Hemen Holding, Frontline plc maintains a strategic focus on crude oil transportation, bolstered by its 2023 acquisition of 24 tankers from Euronav for $2.35 billion, which strengthened its position in the global energy logistics sector. With approximately 85 employees, it plays a critical role in the international oil supply chain, supporting the energy industry's midstream operations.