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Farstad announces new cost reductions

Offshore carrier Farstad has informed its employees that new cost reduction measures will impact the company's Aalesund HQ offices. The move will prepare the carrier for the future, says CEO.

Photo: Farstad Shipping

Norwegian offshore carrier Farstad Shipping has informed employees that a new initiative has been launched aimed at reducing administrative costs at the carrier's Aalesund headquarters, according to a corporate statement.

"The current market situation is challenging. In order to strengthen the company's competitiveness, we are working continuously to keep costs at the right level," says Farstad CEO Karl-Johan Bakken in the statement.

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