LONDON (Bloomberg) — Bermuda-based Frontline Ltd., the world's biggest operator of supertankers, fell in Oslo trading as slumping equity markets and tanker derivatives eroded confidence that charter rates may rise. Frontline slid as much as six percent, the most in almost two weeks. The stock closed down 11.8 kroner, or 5.6 percent, at 197.6 kroner, paring this year's gain to 22 percent and reducing the company's market value to 15.4 billion kroner ($2.4 billion).

Declines in global share markets, freight derivatives and the price of oil probably caused the drop, Ole Stenhagen, an analyst at SEB Enskilda in Oslo, said by e-mail.