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.
Get full access for you and your coworkers.Start a free company trial today
Already a member? Log in.