ShippingWatch

ABG: These Norwegian offshore players look dead in the water

19 Norwegian offshore companies are in dire need of fresh capital in order to survive at an oil price of USD 50 ahead of 2018, according to a stress test performed by ABG Sundal Collier, which projects that one in three companies on the list could fold.

Farstad Shipping
Photo: Farstad Shipping

The sliding oil price has already resulted in the first bankruptcy among Norwegian offshore carriers, but many more face "high risks" of following suit, ABG Sundal Collier analyst John Olaisen tells ShippingWatch.

"All companies on the list are at grave risk, because they need more money," he says.

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