Antony VelikagathuNote: I covered Frontline plc (NYSE:FRO) in January 2024. I prized the company’s large fleet, strong balance sheet, and reasonable valuation. At that time, tanker market fundamentals were supportive. The crude oil tanker order book was below 5%, and the number of ships older than 20 years was rising. On the other hand, tonne-mile demand was resilient due to the Red Sea crisis and stable oil demand. In conclusion, I gave FRO a Buy rating. In May, FRO’s share price reached $28.6/share, o ...