ShippingWatch

A part ofWatch Medier

Noble Group flags another loss as restructuring costs mount

Commodity major Noble Group warns of a new quarterly loss, driven mainly by costs related to its corporate restructuring. The company is on track to complete a USD 3.5 billion rescue deal.

Bloomberg
Photo: Bloomberg
BY KRYSTAL CHIA AND DAVID YONG, BLOOMBERG
Published:

Noble Group Ltd. warned of another quarterly loss, driven by restructuring and finance costs, as the embattled commodity trader moves toward completing a USD 3.5 billion rescue deal that will hand control to creditors.

The net loss for the three months to September will be USD 90 million to USD 115 million, according to a filing on Monday. It expects to incur restructuring costs of about USD 35 million, after spending more than USD 100 million in the first half.

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. Seaspan brings in USD 200 million from sustainbility-linked bonds
  2. A new motorized bow turns tugboats into icebreakers
  3. Black Lives Matter stirred up a dilemma for the president of Hapag-Lloyd America
  4. Kristian Siem loses ownership control of Siem Offshore
  5. DB Schenker resumes freight to UK – DHL suspends some freight in the other direction
  6. MSC fired warning shot to ward off presumed pirate attack
  7. Borr Drilling raises millions after securing approval for rescue plan
  8. V.Group replaces CEO of ship management unit
  9. New NGO to enforce standards created by Rightship and Intercargo
  10. Prosafe reaches deal with oil company after canceled contract
  11. Maersk exec: "We have seafarers that are afraid of pirates – that shouldn't be the case in 2021"
  12. Maersk ship is latest example of remarkable container losses in the Pacific
  13. Maersk is looking into the possibility of vaccinating its employees
  14. Alba Tankers has bought new ships and made USD 16 million in five years
  15. Major bulk ships now earn more than five times more than supertankers
  16. This is Bourbon Offshore's strategy on how to emerge from the crisis
  17. Politicians want dockworkers in LA and Long Beach moved up in vaccination queue
  18. US blacklists oil traders and tankers for violating sanctions on Venezuela
  19. Maersk ship loses 750 containers in the Pacific
  20. Joe Biden signs decree returning the US to the Paris agreement

See all

Jobs

See all

See all