Frontline Ltd. (NYSE: FRO) is a shipping company that transports crude oil and, less frequently, dry cargo.^[1] The company derives most of its revenue from short term (single voyage or per day) contracts. These contracts are more lucrative than longer term contracts, but are also less predictable in terms of their frequency.

FRO's business depends on demand for petroleum and petroleum products. In recent years, the breakneck pace of economic development in countries like China and India has led to increasing demand for oil. FRO has benefited from this trend as the world's growing appetite for oil has led to increasing employment opportunities.

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