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TNK - Frontline Ltd.: Buy On The Rumor And Sell On The News
Teekay Tankers Ltd.
Frontline announced better-than-expected revenues in the first quarter of 2021. Total operating revenues were $194.0 million, well above $174.87 million posted in the fourth quarter of 2020.
On May 18, 2020, Frontline announced that it agreed to acquire six Eco-type VLCCs under construction in a $565M deal.