The oil price being cut in half now leads to noticeable consequences at one of Denmark's biggest shipyards, Orskov Yard. On Thursday the yard laid off 17 employees due to developments in the oil sector, the key customer group for the company, Chairman Christina Ørskov tells ShippingWatch.
The yard has otherwise experienced nothing but growth, with the company's full-year results improving annually in recent years, and the same thing goes for the just-published annul report for 2013/2014. Orskov Yard achieved a result after taxes of USD 4.7 million, up from USD 3.3 million in 2012/2013. And the company is very pleased with this development, says Christina Ørskov.