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Announced 5/20/20
- Operating income of $411.8M
- Net Income of $165.3M
- Div of 70c/sh (75% hike from prior Qtr)
- TCE rates (LR2/Suez/VLCC in K): $31.2/57.8/74.8
- Completed 10-vessel transaction in mid-March 2020

Subsequent to end of Q1, FRO has
- Paid back half (or $60M) of the Hemen facility
- Debt punt of smaller facility out to 2023
- Taken delivery of newbuild Suezmax
- Has reconfirmed financing of newbuild VLCC (June 2020 delivery)
- Fixed several vessels on short-term charters of 6 - 9.5 months

I would say - pretty good quarter
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