Market Update
Welcome to Conyers' 2021 Norway Practice Bulletin. Our
annual publication underscores the importance of the Norwegian
market to our Bermuda corporate practice.
The 12 months since our last issue have been very different, to
say the least, and something of a roller-coaster with second and
third waves of Covid-19.
In general, 2020 was an especially difficult year for raising
capital in the shipping sector. Across the segments total raised
capital dropped 52% on 2019, according to Norwegian investment bank
Fearnley Securities. Nonetheless, Oslo-listed Bermuda companies in
the shipping and offshore energy sectors completed some offerings,
including:
- Stolt-Nielsen's US$180.5 million bond offering in June
2020
