Rig market forces MPC Capital to large-scale impairment

The market for oil rigs made German equity manager MPC Capital book an impairment on an oil rig investment by more than EUR 17 million.

Photo: Bloomberg

An investment in an oil rig costs German equity manager MPC Capital – known mostly for its entry into the container market with MPC Container Ships – an impairment of EUR 17.2 million, says the company in a preliminary update on its financial results for 2018.

The impairment is attributed to a challenging market for oil rigs.

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