ShippingWatch

A part ofWatch Medier

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
BY JOHANNES HARTKOPF-MIKKELSEN
Published:

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.

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. DFDS opens direct route between Ireland and France
  2. Container rates continue to skyrocket with sharp increases on Asia-Europe
  3. Denmark looked into support for Tunisia during migrant crisis on board Maersk ship
  4. Shipping associations want Jeff Bezos to fight for stranded seafarers
  5. More than 50 dry bulkers with Australian coal stranded off China
  6. Bimco to become "more proactive" at the IMO with new London office
  7. Hin Leong founder denies accusations of falsified documents
  8. DFDS to operate a hydrogen-powered ferry from 2027
  9. Arne Fredly's tanker operator postpones market recovery after new infection wave
  10. The US increases its container alliance monitoring on the heels of rate boom
  11. MPC's nightmare summer has transformed into the best market in years
  12. Shipowners fear another Maersk Etienne case and call for political action
  13. Team Tankers sells European chemical tanker fleet
  14. OECD report criticizes LNG and methanol for not being climate-friendly fuels
  15. Greek oil tanker sails into mine off the coast of Saudi Arabia
  16. Avance Gas sees a positive market looking into 2021
  17. Nordic Shipholding expects to land new loan agreement shortly
  18. Bimco calls off peak season for tanker operators
  19. Maersk Tankers after 38-day-long migrant crisis: There was no solution in sight
  20. Strained PIL reports large net loss for first half of the year

See all

Jobs

See all

See all