Frontline Sees Strongest Quarter in Two Decades as Hormuz Crisis Reshapes Tanker Trade

Frontline plc, one of the world’s largest publicly traded operators of crude oil tankers, reported its strongest adjusted quarterly earnings in more than 20 years on Friday, as the disruption of oil flows through the Strait of Hormuz sent tanker rates soaring and rewired global crude trading patterns.

The John Fredriksen-backed tanker giant posted first-quarter 2026 profit of $559.1 million, or $2.51 per share, on revenues of $714.2 million. Adjusted profit came in at $344.9 million, the company’s strongest quarterly adjusted result since the fourth quarter of 2004.

The company also declared a quarterly cash dividend of $1.55 per share.

Frontline