On September 16, FRONTLINE PLC rose 5.02% in regular trading, trading at $54.20 per share, with turnover of approximately $117 million. The rally was driven by a sharp escalation of Middle East geopolitical tensions that simultaneously disrupted two of the world's most critical crude oil shipping chokepoints, sending tanker freight rates to record levels.

Overnight, the U.S. issued fresh threats against Iran, while the Islamic Revolutionary Guard Corps declared the Strait of Hormuz sealed under its control. Concurrently, following an attack on Saudi Arabia's East-West pipeline, the key Red Sea port of Yanbu suspended crude loading operations. Saudi daily output reportedly fell to a thirty-year low, with Red Sea crude loadings plunging from 3.8 million barrels per day in August to 2.2 million. Some 70% of Saudi Yanbu crude exports are now forced to reroute via the Suez Canal or the Cape of Good Hope, doubling Asia-bound shipping times from 24 to 54 days.

This massive rerouting and capacity tightening has pushed VLCC spot rates to all-time highs, directly benefiting FRONTLINE PLC as one of the world's largest independent tanker operators. The company also recently declared a special dividend of $0.80 per share, underscored by a strong Q2 in which revenue surged to $943.3 million, beating estimates by over 24%.

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