ShippingWatch

The oil crisis has cut Seadrill's value by USD 3.80 billion

The market value of John Fredriksen's crown jewel Seadrill has decreased dramatically in the last three months, by around USD 3.80 billion, which means that the company's value has been cut in half. In an usual move, the company is not paying dividends to shareholders.

West Orion-platformen

The oil price, and not least the oil companies' adjustment efforts, are creating uncertainty among suppliers - and this uncertainty is very visible at drilling company Seadrill, the key unit in Norwegian-Cypriot shipping magnate John Fredriksen's empire.

With the publication of the company's interim report on Wednesday, Seadrill's share dropped 16 percent, and the company's share value has thus dropped around USD 3.80 billion in the last three months. This means that the company's market value has been cut in half, Per Hansen, investment economist at Nordnet, tells ShippingWatch.

Read this article for free

Register with your E-mail.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

Related articles

Latest news

Jobs

See all

See all