ShippingWatch

Welltec takes a beating in Q1

The oil service company Welltec expects that the worst is over but factors including the US shale market could still cause problems.

The dire state of the oil industry has once again dealt a fresh blow to Denmark's oil service major Welltec.

Danish newspaper Børsen writes Thursday that the company booked a loss of USD 67.8 million in the first quarter, down from a profit before taxes of USD 3.9 million in the same period 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

Reefer rates to peak in fall season, followed by slow decline

Rates on refrigerated containers, or reefers, have increased by 50% in the second quarter compared to the same period in 2021, with growth set to continue in the third quarter. 2023, however, will see rates slowly declining, forecasts consultancy Drewry.

Further reading

Related articles

Latest news

See all jobs