Canceled and postponed contracts trigger new major loss for Borr Drilling

Borr Drilling's total losses in 2020 now approach a quarter of a billion dollars following new large deficit in the third quarter, in which low fleet utilization strained the company's financials.

Photo: PR/Transocean

Drilling company Borr Drilling booked another significant million-dollar loss on its bottom line in the third quarter, in which low fleet utilization did not help matters.

Most recently, the company booked a USD 58.5 million loss before taxes in the third quarter. With the latest deficit, the company has now lost USD 245.5 million in during the first nine months of 2020.

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

"Mixed lobbying" hinders Maersk from elite status on climate efforts

Think tank InfluenceMap has mapped out how well global companies like Unilever, Ikea and Maersk are performing in terms of meeting climate requirements and whether their words match their deeds. Ambiguous communication stands in the way of Maersk reaching the top, the think tank explains to ShippingWatch.

Danske Bank makes commitment to CO2 neutral loan portfolio by 2050

By 2050 at the latest, Danske Bank's loan portfolio must be fully CO2 neutral. The bank, which provides loans to shipping as well as the oil and gas sector and also supports the Poseidon Principles, isn't ready yet to set out short-term intermediate targets on the road towards CO2 neutrality.

Further reading

Related articles

Trial banner

Latest news

See all jobs