Fredriksen's shipowner only has one concern in offshore after supply vessel exit

John Fredriksen's shipowner SFL Corp sold all its supply ships in the first quarter, and major customer Seadrill wants lowered rates on three rigs. Confidence in offshore is intact, however, although one significant factor still needs to be in place, CEO tells ShippingWatch.

Ole Hjertaker is CEO at John Fredriksen's shipowner SFL Corp. | Photo: Marine Money

A new and sudden downturn in offshore, an exit from the supply sector for now and an inquiry from major customer Seadrill to lower the rates on three drilling rigs.

Like other asset owners, John Fredriksen's shipowner SFL Corp has felt the consequences of a weak oil market in the start to 2020, when major oil companies made deep cuts to their investment budgets.

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