Seadrill expects to wrap up large-scale rescue plan in July

John Fredriksen's drilling company expects to complete its rescue plan in about one month. As such, an almost year-long fight to survive seems looks set to come to an end for the company.

Crisis-stricken rig company Seadrill expects to complete its rescue plan, which restructures debt totaling billions of dollars and which caps an almost year-long fight to survive, about a month from now.

Since September last year Seadrill has been fighting to secure continued operations after the downturn in the oil sector pushed the drilling company to the verge of bankruptcy. But the problems now look set to be resolved for Seadrill and founder John Fredriksen.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk unveils design of methanol vessels

For five years, Maersk has been working on developing a new vessel design, which can increase the energy efficiency of its fleet by 20 percent. The first eight vessels are planned to sail on green methanol from 2024.

Further reading

Related articles

Latest news

See all jobs