Q1 2024 Frontline Plc Earnings Call Transcript
They're all thank you for dialing into Frontline earnings call the first quarter of 2024 was to a large degree tainted by the security situation from the passage between the Red Sea and the Gulf of Yemen sorry, the Gulf of Aden in fact. There are still shelters insisting and owners willing to collapse region, ignoring the security for the seafarers, but we ask from client, we simply don't.
The highlights of Q1 of 2024 was that all the Euronav vessels are now sailing under the Frontline flag. And as we progress into 2024 we will take the full advantage of having a fleet of 41 modern low consuming VLCCs. In addition to our efficiencies, Aframax and LR2 fleets. Utilization seems to be edging higher on all asset classes. But again, the LR2s are the ones to shine.
Before I give the word to Inger, TCE numbers on slide 3 in the deck, in the first quarter of transition before Frontline achieved $41,100 per day on our VLCC fleet, $45,800 per day on our Suezmax fleet and $54,300 per day on our LR2/Aframax fleet. LR2s
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