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Norwegian Frontline seen to post USD2m pre-tax loss in Q3 '09

Posted on: Wed, 25 Nov 2009 13:43:00 EST

Symbols: FRO

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New York, NY, Nov 25, 2009 (M2 PRESSWIRE via COMTEX) --
FRO | Quote | Chart | News | PowerRating -- 25 November 2009 - Oslo-listed tanker operator Frontline Ltd (OSL: FRO)
is expected to have slipped to a pre-tax loss of USD2m in the third
quarter of 2009, from a USD108m pre-tax profit a year earlier,
according to a poll among 10 analysts by SME Direkt.

Frontline's EBIT are expected falling to USD34m in July-September 2009
from USD173m in the corresponding period of 2008.

Analysts expect time charter revenue on average of USD196m, down from
USD400m.

For the full-2009, time charter revenue is projected to drop to USD924m
from USD1.512bn in 2008, and for 2010 and 2011 the item is forecast at
USD935m and USD945m, respectively.

Two of the polled analysts gave a "buy"/"accumulate" recommendation,
while seven said "sell"/"reduce". None of the analysts gave a "hold"
rating whereas one analyst did not provide a recommendation.

Analysts from ABG Sundal Collier, Carnegie, DnB NOR Markets, Fearnley
Fonds, First Securities, Fondsfinans, Orion Securities, NRP Securities,
RS Platou Markets and SEB Enskilda participated in the poll.

Frontline is due to release third-quarter figures on 27 November 2009.

(EUR1 = USD1.5)

Comments on this story may be sent to 
nbr.feedback@nordicbusinessreport.com

For full details on Frontline Ltd Adr (FRO) FRO. Frontline Ltd Adr (FRO) has Short Term PowerRatings at TradingMarkets. Details on Frontline Ltd Adr (FRO) Short Term PowerRatings is available at This Link.

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