There are still lots of newbuilds and perhaps not all companies are so happy to receive them in the middle of a supply glut. FRO may pick some up.
Besides that I'm wondering why FRO went up 17% during the last days. Q3 will be worse than Q2 and vessel scrapping is still too little. I don't see a catalyst for improved profits There are some analyst upgrades, but it may take a year from now for a substantial market change. I wanna see companies really dispose off ships like the bulkers did.
With Q3 delivering a much bigger loss than Q2 I see better buying opportunities coming.