Frontline Ltd.

Frontline Ltd.

Frontline Ltd.

Overview
Date Founded

1985

Headquarters

Par-la-Ville Place,14 Par-la-Ville Road,4th floor,Hamilton HM 08

Type of Company

Public

Employees (Worldwide)

84

Industries

Marine Shipping
Oil & Gas

Company Description

Frontline Ltd. ("Frontline") has its origin in Frontline AB, which was founded in 1985, and which was listed on the Stockholm Stock Exchange from 1989 to 1997. Hemen Holding Ltd. (a company indirectly controlled by trusts established by our Chairman John Fredriksen for the benefit of his immediate family) became the largest shareholder of Frontline AB in 1996. In May 1997, a decision was made at the general meeting in Frontline AB to change its domicile from Sweden to Bermuda and to list its shares on the Oslo Stock Exchange. The change of domicile was executed through a share for share exchange offer from the then newly formed Frontline in Bermuda. As a result of the acquisitions of vessels and shipping companies, Frontline has established itself as the world leader in the international seaborne transportation of crude oil, with one of the world's largest fleets of VLCC and Suezmax tankers and Suezmax OBO carriers. Frontline is committed to providing quality transportation services to all its customers and to developing and maintaining long-term relationships with the major charterers of tankers.

Contact Data
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In The News
Associated Press
November 29, 2021
Frontline: Q3 Earnings Snapshot
Associated Press
August 26, 2021
Frontline: Q2 Earnings Snapshot
GlobeNewswire
August 19, 2021
FRO - Appointment of CEO
Executives & Employees

Chief Executive Officer

Chairman & Director

Chief Financial Officer

General Manager, Technical & Operations Sea

Director, Chartering Department

Vice President, Finance

Technical Manager (Shanghai)

Fleet Manager, Technical

Operation Manager

Chartering Manager

Board of Directors

Chairman & Director at Frontline Ltd.

President & Director at Frontline 2012 Ltd.

Associate Member at Chartered Insurance Institute

Former Executive Director-Oil Desk at Goldman Sachs Ltd.

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Frontline Ltd.
Owners & Shareholders
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Folketrygdfondet is an active, value-oriented, long-term manager which administers the Government Pension Fund Norway following rules set by the Ministry of Finance mandate requiring them to invest in equities and fixed-income instruments in a counter-cyclical manner in Norway, Denmark, Finland and Sweden. The strategic benchmark stipulates a 60 percent allocation to equities and 40 percent to fixed income, with a regional split of 80-90 percent in Norway and 10-20 percent across the rest of the Nordic region. The firm’s managers apply both qualitative and quantitative criteria. Folketrygdfondet focus on fundamental factors such as macroeconomic assessments, performance trends, equity returns, capital structure, pricing, cash flow and analyses of corporate governance, environmental and social matters.

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Excellence Investments’ activities are divided in to: Investment Management, which includes investment management and marketing services in the field of securities and financial instruments such as management of mutual funds and real estate investment trusts (REIT) management; Issuance of structured products, which includes issuance and trade of structured exchange traded bonds and issuance of non traded structured products; Issuance of financial instruments, which includes issuance and trade of deposit certificates and issuance and trade of ETFs and deposits; Investment banking and underwriting; Stock Exchange and Trading Services, which includes stock exchange members and brokerage service, primarily to institutional investors, as well as Provident funds and pension funds.

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FK uses a bottom-up approach for the Norwegian equity funds to be able to fully benefit from their knowledge of the Norwegian commercial and industrial environment. For their global portfolios, they use a top-down approach to be able to identify sectors with good future growth potential. The firm is an active portfolio management that invests globally in equity and fixed-income with a focus on Norwegian securities. FK’s investment decisions are based on their fundamental research. They select companies from businesses they know and understand themselves, considering qualitative factors before assessing financial results and data.

Recent Transactions
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OSM Maritime Group AS, Oaktree Capital Management (Private Equity) purchase SeaTeam Management Pte. Ltd. from Golden Ocean Group Ltd., Frontline Ltd.

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Frontline Ltd. purchases FMS Singapore Pte Ltd.

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Frontline Ltd. purchases FMS Singapore Pte Ltd.

Transaction Advisors
Investment Advisor

Advised onFrontline Ltd. purchases ICB Shipping AB

Legal Advisor

Advised on purchases Golden Ocean Group Ltd. (Inactive) from Frontline Ltd.

Legal Advisor

Advised onFrontline Ltd. purchases General Maritime Corp. (Inactive)

Advisors & Consultants
Legal Advisor

Partner at Simpson Thacher & Bartlett LLP

Clients

Golden Ocean Group Ltd. engages in the ownership and operation of dry bulk vessels. The firm manages Newcastlemax, Capesize, Panamax, and Ultramax vessels and transports bulk commodities, including ores, coal, grains, and fertilizers. It also involves in the charter, purchase, and sale of vessels. The company was founded on September 18, 1996 and is headquartered in Hamilton, Bermuda.

Seadrill is a leading offshore deepwater drilling company, aiming to be our customers' most important partner in making oil and gas available in a safe and cost-effective manner. The company operates a versatile fleet of 75 units that comprises drillships, jack-up rigs, semi-submersible rigs and tender rigs for operations in shallow to ultra-deepwater areas in harsh environment and benign environments.

Archer Ltd. engages in the provision of a variety of oilfield products and services. It operates through the Eastern Hemisphere and Western Hemisphere segments. The Eastern Hemisphere segment involves in platform drilling, engineering, wireline, and oiltools service divisions. The Western Hemisphere comprises the land drilling operations in Latin America. The company was founded on August 31, 2007 and is headquartered in Hamilton, Bermuda.

Key Stats and Financials As of 2020
Market Capitalization
$1.43B
Total Enterprise Value
$3.23B
Earnings Per Share
$2.11
Revenue
$1.2B
EBITDAMargin
50.79%
Enterprise Value / Sales
2.7x
Enterprise Value EBITDAOperating
5.29x
TEVNet Income
7.83x
Debt TEV
0.68x
Three Year Compounded Annual Growth Rate Of Revenue
24.29%
Total Debt
$2.2B
Total Equity
$1.61B
EBITDA
$609M
Net Profit
$413M
Suppliers
SFL Corp. Ltd. Shipping & Delivery | Hamilton, Bermuda

SFL Corp. Ltd. engages in the ownership and operation of vessels and offshore related assets. It also involves in the charter, purchase, and sale of assets. It operate through subsidiaries located in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. The company was founded on October 10, 2003 and is headquartered in Hamilton, Bermuda.

Korea Shipbuilding & Offshore Engineering Co., Ltd. Industrial Machinery & Manufacturing | Ulsan, South Korea

Korea Shipbuilding & Offshore Engineering Co., Ltd. engages in the manufacture and sale of steel ships. Its operations are carried out through the following divisions: Shipbuilding, Offshore and Engineering, Industrial Plant and Engineering, Engine and Machinery, Electro Electric Systems, Green Energy and Construction Equipment. The Shipbuilding division main products involve VLCCs, tankers, product carriers, chemical tankers, containerships, bulk carriers, OBO carriers, ro-pax ships, ro-ro ships, pure car carriers, LNG carriers, LPG carriers, submarines, destroyers and frigates. The Offshore and Engineering division has floating units, mixed platforms, pipelines and subsea facilities, offshore installations. The Industrial Plant and Engineering division offers combined cycle power plant, thermal power plant, oil and gas processing plant, LNG plant, refinery plant, petrochecmical plant, process equipment, nuclear component, boiler and HRSG. The Engine and Machinery division provides machine engine equipment, industrial machinery, power plant and robot system. The Electro Electric System offers transformers, GIS, switchgear, low and medium voltage circuit breakers, power electronics, rotating machinery, integrated control and monitoring systems. The company Green Energy division has solar power system and wind turbine system. The Construction Equipment division offers excavators, wheel loaders, backhoe loaders, forklift trucks and skid steer loaders. The company was founded by Chung Ju-Yung on December 28, 1973 and is headquartered in Seoul, South Korea.

China CSSC Holdings Ltd. Other Business & Consulting Services | Shanghai, China

China CSSC Holdings Ltd. engages in the manufacturing of ships, medium- and low-speed disel engines for ships, and electromechanical equipment. It also repairs ships and engages in marine projects. The company was founded on May 12, 1998 and is headquartered in Shanghai, China.

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