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BRIEF-Frontline CEO sees more options after failed DHT bid
February 28, 2017 / 2:50 PM / 10 months ago

BRIEF-Frontline CEO sees more options after failed DHT bid

Feb 28 (Reuters) - Frontline Management CEO Robert Hvide Macleod said:

* there are plenty of options in the market, there are other things we could do than the DHT deal

* we are surprised and disappointed DHT turned down our offer, we are considering our next step

* there have been some conversations with DHT but no negotiations, there is where it stands

* we think earnings will be lower in 2017 than we saw in 2016 due to peak in newbuildings

* we believe market will start tightening in 2018 when lower order book and old vessels are retiring

* many customers want vessels that are no more than 15 years old at the most; Chinese clients have that preference and it’s more and more difficult to find employment for vessels that are older ... this trend will definitely contribute to a stronger market in 2018 and 2019 Further company coverage: (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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