ShippingWatch

Noble Corp books impairments totaling USD 4 billion – but orderbook goes up

Financially reborn Noble Corp. sold off five cold-stacked drilling rigs in the fourth quarter 2021 and had to book an asset impairment totaling USD 4 billion as a result, reveals the company's 2020 report. But the orderbook goes up.

Photo: POLFOTO/AP/Daniella Beccaria/seattlepi.com

2020 was an extremely difficult year for drilling company Noble Corp, which lived through receivership and a restructuring of the company's billion-dollar debt.

And those struggles are evident in the company's 2020 annual report. Here, the financially reborn Noble Corp. sold off five cold-stacked drilling rigs, which cost the company an asset impairment of USD 3.9 billion.

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

Employee at Bunker Holding subsidiary charged for alleged corruption

A trader at KPI Oceanconnect, a subsidiary of Bunker Holding, has been charged with alleged corruption totaling at least USD 191,250 as rewards for nominating Straits for the supply of bunker fuel to KPI's customers. The employee has been suspended and his contract terminated, the company informs ShippingWatch.

Freight rates for furniture eat up almost entire profit

The price of shipping a 40-foot container with assembled furniture from Asia to the US West Coast is currently so high that freight rates make up almost 100 percent of the furniture's retail value, according to Sea-Intelligence.

Wallem Group appoints new CEO

Wallem Group appoints interim CEO since January 2021 as the new chief executive officer of the ship management company.

Further reading

Related articles

Trial banner

Latest news

See all jobs