{"success":true,"data":{"pressRelease":{"id":"108693","rtpr_id":"nGNX58kgR","ticker":"HF6","exchange":"","all_tickers":["HF6"],"title":"FRO – Sale of two VLCCs","author":"Globe Newswire","published_at":"2026-08-04T20:30:00.971Z","article_body":"Frontline plc (the “Company” or “Frontline”) (NYSE: FRO – OSE: FRO)\ntoday announced that it has entered into an agreement whereby the Company will\nsell two VLCCs built in 2017 for an aggregate sale price of $270 million. The\nvessels are expected to be delivered to the new owner during the third quarter\nof 2026. The sale is subject to certain closing conditions, in line with\nindustry standards.\n\nAfter repayment of existing debt on the vessels, the transaction is expected\nto generate net cash proceeds of approximately $179 million, and the Company\nexpects to record a gain in the third quarter of 2026 of approximately $110\nmillion, depending on the date of delivery of each vessel to the new owner.\n\nLars H. Barstad, Chief Executive Officer of Frontline Management AS,\ncommented:\n“In these extraordinary markets, and in line with Frontline’s core\nstrategy of returning cash to our shareholders, the Board of Directors of the\nCompany has, subject to completion of the sale, determined to return the cash\nproceeds, a total of approximately $179 million, to its shareholders through a\npayment of a one-time special dividend of $0.80 per share”\n\nAugust 4, 2026\n\nThe Board of Directors\nFrontline plc.\nLimassol, Cyprus\n\nQuestions should be directed to:\n\nLars H. Barstad: Chief Executive Officer, Frontline Management AS\n+47 23 11 40 00\n\nInger M. Klemp: Chief Financial Officer, Frontline Management AS\n+47 23 11 40 00\n\nForward-Looking Statements\n\nMatters discussed in this announcement may constitute forward-looking\nstatements. The Private Securities Litigation Reform Act of 1995 provides safe\nharbor protections for forward-looking statements, which include statements\nconcerning plans, objectives, goals, strategies, future events or performance,\nand underlying assumptions and other statements, which are other than\nstatements of historical facts.\n\nFrontline and its subsidiaries, desire to take advantage of the safe harbour\nprovisions of the Private Securities Litigation Reform Act of 1995 and is\nincluding this cautionary statement in connection with this safe harbour\nlegislation. This announcement and any other written or oral statements made\nby Frontline or its behalf may include forward-looking statements, which\nreflect its current views with respect to future events and financial\nperformance and are not intended to give any assurance as to future results.\nWhen used in this document, the words “believe,” “anticipate,”\n“intend,” “estimate,” “forecast,” “project,” “plan,”\n“potential,” “will,” “may,” “should,” “expect” and similar\nexpressions, terms or phrases may identify forward-looking statements.\n\nThe forward-looking statements in this announcement are based upon various\nassumptions, including without limitation, management’s examination of\nhistorical operating trends, data contained in our records and data available\nfrom third parties. Although Frontline believes that these assumptions were\nreasonable when made, because these assumptions are inherently subject to\nsignificant uncertainties and contingencies which are difficult or impossible\nto predict and are beyond Frontline’s control, it cannot assure you that\nFrontline will achieve or accomplish these expectations, beliefs or\nprojections. Frontline undertakes no obligation to update any forward-looking\nstatements, whether as a result of new information, future events or\notherwise. In addition to these important factors and matters discussed\nelsewhere herein, important factors that, in Frontline’s view, could cause\nactual results to differ materially from those discussed in the\nforward-looking statements include the parties’ ability to obtain the\nnecessary regulatory approvals and to meet other closing conditions to\ncomplete the transactions referenced herein, as well as important factors\ndescribed from time to time in the reports and other documents, including\nfilings with the U.S. Securities and Exchange Commission.\n\nThis information is subject to the disclosure requirements pursuant to Section\n5-12 the Norwegian Securities Trading Act.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/f9d88d27-ba14-4d64-8b73-d550e8a11d97)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX58kgR","title":"FRO – Sale of two VLCCs","author":"Globe Newswire","ticker":"HF6","created":"2026-08-04T20:30:00.971Z","tickers":["HF6"],"exchange":"","article_body":"Frontline plc (the “Company” or “Frontline”) (NYSE: FRO – OSE: FRO)\ntoday announced that it has entered into an agreement whereby the Company will\nsell two VLCCs built in 2017 for an aggregate sale price of $270 million. The\nvessels are expected to be delivered to the new owner during the third quarter\nof 2026. The sale is subject to certain closing conditions, in line with\nindustry standards.\n\nAfter repayment of existing debt on the vessels, the transaction is expected\nto generate net cash proceeds of approximately $179 million, and the Company\nexpects to record a gain in the third quarter of 2026 of approximately $110\nmillion, depending on the date of delivery of each vessel to the new owner.\n\nLars H. Barstad, Chief Executive Officer of Frontline Management AS,\ncommented:\n“In these extraordinary markets, and in line with Frontline’s core\nstrategy of returning cash to our shareholders, the Board of Directors of the\nCompany has, subject to completion of the sale, determined to return the cash\nproceeds, a total of approximately $179 million, to its shareholders through a\npayment of a one-time special dividend of $0.80 per share”\n\nAugust 4, 2026\n\nThe Board of Directors\nFrontline plc.\nLimassol, Cyprus\n\nQuestions should be directed to:\n\nLars H. Barstad: Chief Executive Officer, Frontline Management AS\n+47 23 11 40 00\n\nInger M. Klemp: Chief Financial Officer, Frontline Management AS\n+47 23 11 40 00\n\nForward-Looking Statements\n\nMatters discussed in this announcement may constitute forward-looking\nstatements. The Private Securities Litigation Reform Act of 1995 provides safe\nharbor protections for forward-looking statements, which include statements\nconcerning plans, objectives, goals, strategies, future events or performance,\nand underlying assumptions and other statements, which are other than\nstatements of historical facts.\n\nFrontline and its subsidiaries, desire to take advantage of the safe harbour\nprovisions of the Private Securities Litigation Reform Act of 1995 and is\nincluding this cautionary statement in connection with this safe harbour\nlegislation. This announcement and any other written or oral statements made\nby Frontline or its behalf may include forward-looking statements, which\nreflect its current views with respect to future events and financial\nperformance and are not intended to give any assurance as to future results.\nWhen used in this document, the words “believe,” “anticipate,”\n“intend,” “estimate,” “forecast,” “project,” “plan,”\n“potential,” “will,” “may,” “should,” “expect” and similar\nexpressions, terms or phrases may identify forward-looking statements.\n\nThe forward-looking statements in this announcement are based upon various\nassumptions, including without limitation, management’s examination of\nhistorical operating trends, data contained in our records and data available\nfrom third parties. Although Frontline believes that these assumptions were\nreasonable when made, because these assumptions are inherently subject to\nsignificant uncertainties and contingencies which are difficult or impossible\nto predict and are beyond Frontline’s control, it cannot assure you that\nFrontline will achieve or accomplish these expectations, beliefs or\nprojections. Frontline undertakes no obligation to update any forward-looking\nstatements, whether as a result of new information, future events or\notherwise. In addition to these important factors and matters discussed\nelsewhere herein, important factors that, in Frontline’s view, could cause\nactual results to differ materially from those discussed in the\nforward-looking statements include the parties’ ability to obtain the\nnecessary regulatory approvals and to meet other closing conditions to\ncomplete the transactions referenced herein, as well as important factors\ndescribed from time to time in the reports and other documents, including\nfilings with the U.S. Securities and Exchange Commission.\n\nThis information is subject to the disclosure requirements pursuant to Section\n5-12 the Norwegian Securities Trading Act.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/f9d88d27-ba14-4d64-8b73-d550e8a11d97)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-08-04T20:30:01.08323764Z","server_sent_at_ms":1785875401083},"received_at":"2026-08-04T20:30:01.152Z","source_url":"https://www.globenewswire.com/news-release/2026/08/04/3338856/0/en/fro-sale-of-two-vlccs.html"},"analysis":{"id":"97701","press_release_id":"108693","analysis_json":{"industry":{"label":"Marine","sector":"Industrials"},"redFlags":[],"eventType":"operations_update","narrative":"Frontline has entered into an agreement to sell two 2017-built VLCCs for an aggregate price of $270 million, with delivery expected in Q3 2026.\n\nAfter repaying debt on the vessels, the company expects net proceeds of approximately $179 million and a gain of roughly $110 million.\n\nThe Board has decided to return the full net proceeds to shareholders through a one-time special dividend of $0.80 per share.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Frontline recycles capital by selling two VLCCs, booking a $110M gain and funding a $0.80/share special dividend."},"keyFigures":{"dealValueUsd":270000000,"customDimensions":{"net_proceeds":179000000,"expected_gain":110000000,"special_dividend_per_share":0.8}},"quotedText":"In these extraordinary markets, and in line with Frontline’s core strategy of returning cash to our shareholders, the Board of Directors of the Company has, subject to completion of the sale, determined to return the cash proceeds, a total of approximately $179 million, to its shareholders through a payment of a one-time special dividend of $0.80 per share","namedEntities":{"people":[{"name":"Lars H. Barstad","role":"Chief Executive Officer"},{"name":"Inger M. Klemp","role":"Chief Financial Officer"}],"products":["VLCCs"],"companies":[{"name":"Frontline plc","ticker":"FRO","relationship":"subject"}],"dollarAmounts":[{"amount":"$270 million","context":"aggregate sale price of two VLCCs"},{"amount":"$179 million","context":"expected net cash proceeds after debt repayment"},{"amount":"$110 million","context":"expected gain to be recorded in Q3 2026"},{"amount":"$0.80","context":"one-time special dividend per share"}]},"materialImpact":{"score":3,"reasoning":"The transaction generates significant liquidity ($179M net) and a large realized gain ($110M), with 100% of proceeds returned to shareholders via a special dividend. While positive for capital returns, it reduces the fleet size by two vessels."},"tickerRelevance":{"others":[{"ticker":"FRO","relevance":"mentioned"}],"primary":"HF6"},"globalImportance":30,"audienceRelevance":25,"eventTypeSecondary":["dividend"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"asset_sale_and_capital_return","sectorWeight":"industrials"}},"event_type":"operations_update","event_type_secondary":["dividend"],"sentiment":"bullish","material_impact_score":3,"narrative":"Frontline has entered into an agreement to sell two 2017-built VLCCs for an aggregate price of $270 million, with delivery expected in Q3 2026.\n\nAfter repaying debt on the vessels, the company expects net proceeds of approximately $179 million and a gain of roughly $110 million.\n\nThe Board has decided to return the full net proceeds to shareholders through a one-time special dividend of $0.80 per share.","key_figures":{"dealValueUsd":270000000,"customDimensions":{"net_proceeds":179000000,"expected_gain":110000000,"special_dividend_per_share":0.8}},"named_entities":{"people":[{"name":"Lars H. Barstad","role":"Chief Executive Officer"},{"name":"Inger M. Klemp","role":"Chief Financial Officer"}],"products":["VLCCs"],"companies":[{"name":"Frontline plc","ticker":"FRO","relationship":"subject"}],"dollarAmounts":[{"amount":"$270 million","context":"aggregate sale price of two VLCCs"},{"amount":"$179 million","context":"expected net cash proceeds after debt repayment"},{"amount":"$110 million","context":"expected gain to be recorded in Q3 2026"},{"amount":"$0.80","context":"one-time special dividend per share"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-05T04:28:22.672Z","global_importance":30,"audience_relevance":25,"importance_components":{"tickerTier":"mid-cap","eventGravity":"asset_sale_and_capital_return","sectorWeight":"industrials"}},"durationMs":359529,"modelName":"glm-4.7"}}