Shippingaksje faller på flat Oslo Børs

Oslo Børs' main index remained relatively flat in early trading on Wednesday morning. Oil prices, Brent spot, rose by 0.3 percent to $101 per barrel since midnight. Asian exchanges experienced a broad market decline in the morning, while US exchanges continued to rise on Tuesday.

Shipping company Wallenius Wilhelmsen raised $300 million, or 2.9 billion Norwegian kroner, by selling new shares in a rights issue at 168 kroner per share. The share price concluded at 178 kroner on Tuesday. The funds will be used to fully finance the company's new construction program. Simultaneously, it was announced that the company anticipates an adjusted operating result (EBITDA) of between 420 and 450 million dollars in the third quarter. Forecasts suggest an EBITDA result of around $1.6 billion for 2026.

Wallenius Wilhelmsen's stock has surged this year, partly due to a continued strong freight market for container ships. The company's stock fell around 4 percent. The seafood company Salmar caught 105,100 tons of salmon in the third quarter, up from the same period last year but in line with analyst expectations, according to Bloomberg. - Salmon catch volume in Mid-Norway was affected by withdrawals due to ILA and fishing management considerations at the end of the quarter, impacting cost trends over the period, writes Salmar.

Investor and board member Tor Olav Trøim purchased additional shares in drilling firm Borr Drilling, which he founded in 2016. He acquired 1.5 million shares at an average price of $4.24 per share, equivalent to 61 million Norwegian kroner. Trøim made the purchases through his company Drew Holdings. The purchases come as the firm has built up significant short positions betting on a fall in the stock price. Borr Drilling's stock fell around 2 percent.