(Dow Jones) FBR slashes its price target on Frontline (FRO) to $1.50 from $5.50 as it downgrades the oil-tanker operator to underperform in the wake of the company’s 3Q report, which included a dividend suspension and “management’s concession that a restructuring and additional capital will be necessary in 1H absent a material recovery in the market.” FBR isn’t “ruling out the risk of a restructuring via Chapter 11, as we saw with General Maritime (GMRRQ) last week.” FRO is down another 14% today to $2.64 after Tuesday’s 41% tumble, putting the week’s loss at 54% and the year’s at 90%.
– by Kevin Kingsbury, Dow Jones Newswires
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Israeli naval forces boarded and seized a charity vessel carrying Swedish activist Greta Thunberg, which had tried to break the naval blockade of the Gaza Strip on Monday.
By Crispian Balmer JERUSALEM, June 8 (Reuters) – Israeli Defence Minister Israel Katz told the military on Sunday to stop a charity boat carrying activists including Sweden’s Greta Thunberg who are planning to defy...
The Australian National Maritime Museum (ANMM) has released its final report confirming the discovery of one of maritime history’s most significant vessels – HMS Endeavour – in Newport Harbor, Rhode...
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