Down another 3.79% today.
1013.

As has been said before. 1020 or lower is the level at which shippers lose money(ie they can not pay fuel,crew,and maintenance costs).

[link to www.bloomberg.com]

Expect more shippers to go bankrupt in the next few months,much like happened last year.

[link to valuestockguide.com]

Nov 11,2011

Frontline Crashes and Burns

Frontline (FRO) has long been considered one of the best managed shipping company in the business. Let by John Frederiksen, the company has managed to create tremendous shareholder wealth in good years, including succulent dividends and capital gains. The company is now floundering and has announced that there is too much uncertainty in its business and it needs a capital restructuring – more capital infusion – to survive. It is very likely that it may be able to renegotiate some of its debt facilities.

IE Frontline just died.