Rough oil market dealt Farstad a deficit in 2014

The Norwegian offshore supply carrier suffered a deficit in 2014, as the carrier, in spite of new contracts, felt the consequences of the decline in the oil market.

Photo: Farstad Shipping

Farstad, a competitor to companies such as Maersk Supply Service and Viking Supply Ships, grew its revenue but suffered a deficit on the bottom line in 2014.

The annual report for the Norwegian company shows that revenue in 2014 increased to USD 577 million from USD 528 million in 2013. But the growing revenue came to a bottom line deficit of about USD 1 million in 2014, which is a decline from a profit of USD 34.2 million in 2013.

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