Nordea casts doubt on 13 out of 14 rig companies
13 of the 14 rig companies covered by Nordea Markets will hold less value when the until now 30-month long market downturn turns into a recovery. A new round of refinancing and an aging fleet will cause turmoil in the market, predicts the bank.
BY JOHANNES HARTKOPF-MIKKELSEN
Despite the fact that rig companies have scrapped rigs, negotiated with banks and have more or less permanently parked rigs in ports around the world, the pains felt by the rig companies are far from over.
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