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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Nina Østergaard Borris takes over as USTC's CEO

Danish billionaire Torben Østergaard-Nielsen passes the position as CEO of USTC to his daughter Nina Østergaard Borris. ”A joint decision by the ownership,” Østergaard-Nielsen tells newspaper.

Further reading

Related articles

Latest news

See all jobs