VLCC Charter Rates Soar – “We are in unprecedented times” say CEO

Frontline plc (NYSE and OSE: FRO)  entered into one-year time charter-out agreements for seven of its VLCCs. The charters will commence during the period from late-January to April 2026 at a rate of $76,900 per day per vessel.

“We are in unprecedented times, and these are charter-out-levels not seen for decades,” said Lars H. Barstad, CEO, Frontline Management AS. “Frontline remains largely spot exposed after these contracts become effective, retaining upside in one of the most volatile markets in the world.”