ShippingWatch

Seadrill reduced its deficit in the first quarter

John Fredriksen's drilling company Seadrill managed to reduce its deficit in the first quarter this year. The company's utilization rate stands at more than 90 percent the for whole fleet.

Photo: Seadrill

Seadrill is still losing money, but not as much in the first quarter this year as it did the fourth quarter last year.

Revenue dropped slightly in the first quarter 2015 to USD 1.24 billion from USD 1.26 billion in the fourth quarter last year. And the bottom line finished somewhat better, with a reduced deficit of USD 197 million in the period compared to a loss of USD 251 million in the fourth quarter last year.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
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

ECSA's new secretary general balances on a razor's edge

ECSA’s newly appointed secretary general, Sotirs Raptis, has taken up the helm of an organization criticized by its own members for being invisible. In an interview with ShippingWatch, Raptis explains how he intends to alter that image.

Further reading

Related articles

Latest news

See all jobs