Oil and wind subsupplier withstood Covid without core market
While the crucial Norwegian oil market was far below level for Serman & Tipsmark in 2020, the Danish subsupplier has come out much better than expected. The strategy worked, according to CEO Alex Laursen, who will now compensate employees after the challenging year.
Oil companies are on the road to recovery thanks to rising oil prices, but their appetite for new investments is restrained. As a result, the troubled drilling sector must exercise patience as it waits for activity levels to improve, two stock market analysts tell ShippingWatch.
Even though the OEM has done a fine job handling Covid-19, according to Vestas' CEO, the outbreak that's still affecting the Ringkøbing factory has provided insights on what happens when anti-contagion protocols slacken.