ShippingWatch

A part ofWatch Medier

Record-low share price shrouds Seadrill in uncertainty

The latest slide in the oil price puts severe pressure on the shares in John Fredriksen's Seadrill. In just one week, the price has dropped from USD 5.97 to USD 4.24. Analysts question whether the company can pay its covenants and project that 2016 could be a crunch point for the company.

West Orion-platformen
BY CHRISTIAN BARTELS
Published:

Times are tough for the entire offshore supply chain, and this applies to the John Fredriksen-owned drilling unit Seadrill, which is hit hard on both its business and its share price. The low oil price - which on Tuesday slid below USD 40 per barrel of Brent, and continues to hover at just USD 40.85 - has allegedly made Seadrill's share drop from around USD 5.97 to USD 4.24.

This represents an all-time low for the company's share.

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

  1. Japan and South Korea warn EU against carbon quotas on shipping
  2. Dry bulk market sees biggest influx of ships since 2016
  3. Norwegian shipowner sentenced to prison in scrapping case
  4. Scorpio Bulkers sells four ships to Pacific Basin
  5. Maersk's biggest customer disappointed with the container line's large-scale logistics ambitions
  6. Chinese blacklisting of Australian coal hits four Golden Ocean ships
  7. 128 seafarers kidnapped in Gulf of Guinea this year after new incident
  8. Norwegian investor sells shares in strained offshore ship operator
  9. DFDS opens direct route between Ireland and France
  10. Container rates continue to skyrocket with sharp increases on Asia-Europe
  11. Denmark looked into support for Tunisia during migrant crisis on board Maersk ship
  12. Shipping associations want Jeff Bezos to fight for stranded seafarers
  13. More than 50 dry bulkers with Australian coal stranded off China
  14. Bimco to become "more proactive" at the IMO with new London office
  15. Hin Leong founder denies accusations of falsified documents
  16. DFDS to operate a hydrogen-powered ferry from 2027
  17. Arne Fredly's tanker operator postpones market recovery after new infection wave
  18. The US increases its container alliance monitoring on the heels of rate boom
  19. MPC's nightmare summer has transformed into the best market in years
  20. Shipowners fear another Maersk Etienne case and call for political action

See all

Jobs

See all

See all