ShippingWatch

Credit manager: Oil bankruptcies underway

Norwegian credit information institute Experian noted a significant increase in the number of bankruptcies and forces sales in August. "The number bankruptcies will be high and steady throughout 2016," says Director.

Photo: PR

The Norwegian credit information institute Experian warns of a significant rise in the number of bankruptcies in the oil industry within the near future.

"The oil region in Stavanger is not number one in the statistics of bankruptcies in August. This is probably because of inertia. I project a massive increase in the number of bankruptcies in this region," Director Frode Berg tells Norwegian business daily Dagens Næringsliv. This region is home to many of the suppliers and subcontractors to the offshore and oil industry.

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

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs