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Fredriksen working around the clock to save Seadrill

Norwegian shipping magnate John Fredriksen is spending every waking hour trying to settle a rescue plan for his ailing company Seadrill, he tells Norwegian daily Dagens Næringsliv. This Wednesday morning, the share price took a new steep dive of almost 30 percent.

John Fredriksen is working 24/7 to save his struggling rig company Seadrill which is in the midst of rapid decline on the stock exchanges in both Oslo and in New York.

The Norwegian investor also owns the dry bulk carrier Golden Ocean but Seadrill is currently in the spotlight.

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