reports
- Martin Huseby Karlsen
- Alexander Aukner
LSG LEROY SEAFOOD GROUP ASA
AUSS AUSTEVOLL SEAFOOD ASA
AKVA AKVA GROUP ASA
SALM SALMAR ASA
GSF GRIEG SEAFOOD ASA
MOWI MOWI ASA
BAKKA BAKKAFROST P/F
SALMOCAM SALMONES CAMANCHACA SA
IFISH ICE FISH FARM AS
ASA ATLANTIC SAPPHIRE
SALME SALMON EVOLUTION HOLDING
KING THE KINGFISH COMPANY NV
AKBM AKER BIOMARINE
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
MAS MÅSØVAL
- Alexander Aukner
Kaldvik AS enters into definitive agreements to acquire key assets in ...
Kaldvik AS enters into definitive agreements to acquire key assets in the fish farming value chain on the east-coast of Iceland Frøya, Norway, 27 February 2025: Reference is made to the announcement by Kaldvik AS ("Kaldvik", the "Company") on 20 December 2024 regarding a potential acquisition of certain key assets in the fish farming value chain on the east-coast of Iceland, from Heimstø AS ("Heimstø") and Osval ehf. ("Osval"). Kaldvik has today entered into definitive agreements to acquire (i) 100% of the shares in Mossi ehf., which owns the property and building hosting Djupskel efh. ("...
- Martin Huseby Karlsen
- Alexander Aukner
LSG LEROY SEAFOOD GROUP ASA
AUSS AUSTEVOLL SEAFOOD ASA
AKVA AKVA GROUP ASA
SALM SALMAR ASA
GSF GRIEG SEAFOOD ASA
MOWI MOWI ASA
BAKKA BAKKAFROST P/F
SALMOCAM SALMONES CAMANCHACA SA
IFISH ICE FISH FARM AS
ASA ATLANTIC SAPPHIRE
SALME SALMON EVOLUTION HOLDING
KING THE KINGFISH COMPANY NV
AKBM AKER BIOMARINE
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
MAS MÅSØVAL
- Martin Huseby Karlsen
Petrobras claim to drilling contractors related to Sete project
Seadrill said on its earnings call that it recently had received a claim of USD213m from Petrobras related to its involvement in the Sete project in Brazil. Sete was launched in 2011, looking to build 29 deepwater rigs in Brazil, with involvement from several drilling contractors; Seadrill, Odfjell Drilling, Queiroz Galvao (now Constellation), Odebrecht (now Foresea), Petroserv (now Ventura Offshore) and Etesco. Seadrill said local and international peers have received similar claims. It further...
- Martin Huseby Karlsen
Update on Aramco and Pemex
In the jackup market, suspensions by Saudi Aramco and Pemex over the past 12 months have created continued uncertainty among investors. We see the overhang of 11 ex-Aramco premium jackups yet to be re-contracted extending through 2025. Looking ahead, we believe the worst is behind us, but we still see a risk of further reductions in Saudi Aramco’s rig count, possibly through additional suspensions of 2–5 rigs, while other rigs are set to be extended. In Mexico, uncertainty remains high, and it i...
- Ola Trovatn
- ABGSC Seafood Research
- Martin Kaland
- Simon Brun
KALDVIK AS (KLDVK): Q4 2024 Results
KALDVIK AS (KLDVK): Q4 2024 Results KALDVIK AS (KLDVK) reports Operating income in Q4 amounted to EURm 46.8 (EURm 32.6), while the operating profit/loss before fair value adjustment of biomass and production tax was EURm -18.1 (EURm 4.6). Operating profit/loss before fair value adjustment of biomass, one-off biomass write-down and production tax was EURm 5.0 (EURm 4.6). Harvest amounted to 6.668 tonnes in Q4 2024 (4.202 tonnes) Web cast will be at 11:00 (CET)/ 10:00 Icelandic time on 26 February 2025 on the following link: Attached is the presentation and report for Q4 2024. Kaldvik,...
- Martin Huseby Karlsen
Brazilian regulators said to have suspended several drillships
News reports, as confirmed by Ventura Offshore, suggest the Brazilian regulator (ANP) has ordered the suspension of operations for certain rigs offshore Brazil, related to what appears to be safety issues. Unlike suspensions seen for jackups by Saudi Aramco and Pemex, these suspensions are not related to a lack of demand, but rather what appears to be safety procedures in the view of the regulator, which the news article highlights as “minor issues”. Hence, we expect no wider impact for the offs...
Kaldvik AS (KLDVK): Q4 2024 Webcast results 26 February 2025 at 11:00 ...
Kaldvik AS (KLDVK): Q4 2024 Webcast results 26 February 2025 at 11:00 (CET) A presentation of Kaldvik AS interim report Q4 2024 will be held at 11:00 (CET)/ 10:00 Icelandic time on the 26th of February 2025. The company’s CEO Roy-Tore Rikardsen and CFO Róbert Róbertsson will be presenting the company's results. This session will be held in English online. Questions may be asked after the session. Join the session by using this link: Kaldvik AS interim report Q4 2024 will be released on the 26th February 2025 at 7:00 (CET). Contacts: Róbert Róbertsson, CFO of Kaldvik AS: (mobile) ...
- Martin Huseby Karlsen
- Alexander Aukner
LSG LEROY SEAFOOD GROUP ASA
AUSS AUSTEVOLL SEAFOOD ASA
AKVA AKVA GROUP ASA
SALM SALMAR ASA
GSF GRIEG SEAFOOD ASA
MOWI MOWI ASA
BAKKA BAKKAFROST P/F
SALMOCAM SALMONES CAMANCHACA SA
IFISH ICE FISH FARM AS
ASA ATLANTIC SAPPHIRE
SALME SALMON EVOLUTION HOLDING
KING THE KINGFISH COMPANY NV
AKBM AKER BIOMARINE
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
MAS MÅSØVAL
- Martin Huseby Karlsen
- Alexander Aukner
LSG LEROY SEAFOOD GROUP ASA
AUSS AUSTEVOLL SEAFOOD ASA
AKVA AKVA GROUP ASA
SALM SALMAR ASA
GSF GRIEG SEAFOOD ASA
MOWI MOWI ASA
BAKKA BAKKAFROST P/F
SALMOCAM SALMONES CAMANCHACA SA
IFISH ICE FISH FARM AS
ASA ATLANTIC SAPPHIRE
SALME SALMON EVOLUTION HOLDING
KING THE KINGFISH COMPANY NV
AKBM AKER BIOMARINE
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
MAS MÅSØVAL
- Martin Huseby Karlsen
Seadrill (Buy, TP: USD45.00) - Patience remains key
Having secured extensions for two of three Petrobras rollovers, Seadrill’s earnings visibility for its high-spec deepwater rigs is building nicely for 2027. At the same time, uncertainty remains for its tier-2 deepwater rigs, and the negative estimate revision trend is set to continue, as we are 13% (2025e) and c20% (2026–2027e) below consensus on EBITDA. Still, it is one of the few offshore drillers with decent YOY EBITDA growth and is trading at decent cash flow yield metrics and attractive mu...
- Martin Huseby Karlsen
Offshore spending plateauing
After reviewing major oil companies’ most recent spending plans, we estimate offshore spending growth of c3% YOY in 2025 (down from c5% late last year and c8% six months ago). We believe a combination of supply-chain bottlenecks, efficiency gains, and capital discipline among oil companies are the main reasons for spending growth fading, resulting in a mid-cycle plateau. On the flip side, the cycle keeps building duration, as we see investments being pushed into 2026–2027. Also, activity levels ...
SDRL SEADRILL LTD
ARCHERO ARCHER
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
ODL ODFJELL DRILLING
AKSOO AKER SOLUTIONS ASA
DO DIAMOND OFFSHORE DRILLING INC.
RIGN TRANSOCEAN LTD.
BWO BW OFFSHORE LIMITED
BORR BORR DRILLING
SHLF SHELF DRILLING LTD.
VAL VALARIS LTD
NE NOBLE CORP NEW
OTL ODFJELL TECHNOLOGY LTD
SDNS SHELF DRILLING NORTH SEA
DDRIL DOLPHIN DRILLING
DOFG DOF GROUP ASA
VTURA VENTURA OFFSHORE
PLSV PARATUS ENERGY SERVICES LTD.
- Martin Huseby Karlsen
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