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April 24, 2020

Service provider Valaris considering bankruptcy

By Matthew Farmer

Offshore service and vessel provider Valaris is reported to be considering bankruptcy.

On Tuesday, Reuters carried reports of Valaris preparing for talks with creditors to enter bankruptcy proceedings.

On Wednesday, it released a fleet report showing a slew of laid-up vessels, cancelled contracts and shortened operating hours.

Commentators have reacted with grim expectations of the company. It employs 5,800 people operating worldwide.

Read more here.

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