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Farstad pulls another five ships from the market

Norwegian Farstad Shipping is pulling five offshore vessels from the market in a move that could result in upwards of 100 layoffs.

Photo: Farstad Shipping

Supply carrier Farstad Shipping is idling five vessels in the struggling offshore market. The move concerns two PSVs and three anchor handling tug supply vessels (AHTS), informs the carrier in a statement on Friday.

The decision to idle the five ships is attributed to Farstad Shipping's expectations that the offshore market will become even weaker going forward, and the move to pull the ships also means that around 100 employees will be laid off.

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