Canceled and postponed contracts trigger new major loss for Borr Drilling

Borr Drilling's total losses in 2020 now approach a quarter of a billion dollars following new large deficit in the third quarter, in which low fleet utilization strained the company's financials.

BY SØREN PICO, SHIPPINGWATCH

Drilling company Borr Drilling booked another significant million-dollar loss on its bottom line in the third quarter, during which low fleet utilization did not help matters.

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