ShippingWatch

Four rig companies lost a combined USD 1.6 billion in three months

Four of the world's biggest rig companies all booked major deficits in the third quarter, and only one company lands in an overall plus for 2019. The fifth, Maersk Drilling, did not publish its bottom line. "We provide the figures we provide at the moment," the company's CEO Jørn Madsen says to ShippingWatch.

Photo: Russell Cheyne/Reuters/Ritzau Scanpix

In just one quarter, four of the world's biggest drilling companies managed to lose over a billion US dollars, shows a calculation ShippingWatch has made based on the rig companies' financial reports for the quarter published in recent weeks.

Transocean, Seadrill, Valaris and Borr Drilling all booked deficits in the quarter amounting to USD 1.6 billion in total.

Read the whole article

Get 14 days free access.
No credit card required.

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

Banks predict more upgrades from container carriers

Maersk won't be the only carrier to announce an upgrade due to a red-hot container market fueled by sky-high rates and massive demand. Others will raise their expectations as well, according to SEB Enskilda and Sydbank.

Further reading

Related articles

Trial banner

Latest news

See all jobs