Maersk Drilling CEO: Debt in offshore is six times higher than the market value
The drilling industry's combined debt is six times higher than the market value, says Maersk Drilling CEO Jørn Madsen. It is important to differentiate between short- and long-term debt, Transocean CFO tells EnergyWatch's sister media, ShippingWatch.
BY SØREN PICO, SHIPPINGWATCH
The drilling companies' debt to creditors is currently significantly higher than their combined market value, said Maersk Drilling CEO Jørn Madsen on Wednesday when he was part of panel debate in London at Nordea's conference for shipping, offshore and oil.
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