Offshore

Maersk Drilling CEO: Debt in offshore is six times higher than the market value

The drilling industry's combined debt is six times higher than the market value, says Maersk Drilling CEO Jørn Madsen. It is important to differentiate between short- and long-term debt, Transocean CFO tells ShippingWatch.
Jørn Madsen is CEO of Maersk Drilling. | Photo: PR/Maersk Drilling
Jørn Madsen is CEO of Maersk Drilling. | Photo: PR/Maersk Drilling
by SØREN PICO

The drilling companies' debt to creditors is currently significantly higher than their combined market value, said Maersk Drilling CEO Jørn Madsen on Wednesday when he was part of panel debate in London at Nordea's conference for shipping, offshore and oil.

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