Frontline Ltd. (NYSE:FRO) Q4 2023 Earnings Call Transcript

Then you need to start to think that, well, I have a VLCC now, not a Suezmax. The Suezmax is far more nimble and easier to place in as far more options on the port side. And the same goes for clean. Although, kind of you would love to fill up the Suezmax with a product, well, you can’t really discharge that say into Rotterdam, because the birth doesn’t fit a Suezmax. So that’s just an example. That’s — so all these things take time before you [technical difficulty] kind of pursue it. So I think the initial movement, which is so on the clean side where the red rocketed was basically the renowned ships coming from left to East because the trading was constrained basically, on this long art. And as some of you were empty with ships in the Middle East region and you had to price for freight at a price to level where ships would actually go empty from Europe to the Middle East.

And — but obviously, we see now that that’s now kind of normalized and corrected, I think. And this is just me thinking, I’ve limited visibility to the trading books of the various kind of majors and traders. But what we at least looks like is that we see these stems now being collected and put together. Product moving from the East to the West, and from the West to the East, in larger bulk.

Sam Bland: And that will tend to mean that the sort of you get a little bit more strength in the larger ship.

Lars Barstad: Yes.

Sam Bland: That’s the implication.

Lars Barstad: Yes.

Sam Bland: Okay. Understood. Thank you.

Lars Barstad: Okay. Thank you, Sam.

Operator: Thank you. We have no further questions at this time. I will now hand back to you to closing remarks. Thank you.

Lars Barstad: Thank you very much for dialing in. And it’s an exciting market we’re in, maybe too exciting times. But, again, I would like to highlight that I think we are in a grind, a gradual grind going in the right direction. And there are kind of — signs in the [indiscernible] that will have volatility going forward. So with that, thank you very much.

Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for participating. You may now disconnect your lines. Thank you.