Tanker operator Frontline wrapped up the shipping industry’s first quarter revenue reports with a 22% drop on a year earlier. That was 3% lower than analyst expectations, likely due to spot rates that were 9% below guidance. The tanker industry overall saw revenues increase by 1% – the first rise since 4Q 2015. When including the faster-growing forwarders and container-lines 1Q revenues for the shipping industry expanded by 6%. That was the second quarter of growth. Analysts expect this to continue, with an aggregate 4% growth for 2017 overall. Tankers are seen receding by 3%, forwarders...