Farstad Shipping to Lay Up Five Vessels

Farstad Shipping mentioned Friday it’s planning to put up two platform provide vessels and three anchor dealing with tugs in Norway, marking the most recent casualty of the weakened offshore market that’s solely anticipated to worsen.

Farstad says that because of the lay ups roughly 100 offshore staff, largely of Norwegian nationalities, will probably be laid off. Farstad didn’t say which vessels will probably be impacted.

Prior to Friday’s announcement, Farstad Shipping had two vessels laid up in Norway and two vessels laid up in Asia.

“To lay up vessels and lay off our employees is a painful measure, especially for those of our employees who are personally affected by the measures. This is deeply regrettable, but necessary due to the current market situation,” says Karl-Johan Bakken, CEO of Farstad Shipping.

Farstad Shipping is now absolutely targeted on securing contracts and employment of vessels and crews, it says.

“Even if it looks dark now, we know there will be better times. We have been through heavy storms before. My target number one is to see us return to a strengthen position with our vessels and employees back in business,” Bakken says.

“This is, however, not a job I do on my own, but together with all of the highly qualified employees of Farstad Shipping, who give their best to the company every single day,” Bakken added.

Farstad Shipping’s fleet at the moment consists of 62 vessels (31 AHTS, 25 PSV and 6 SUBSEA) and 1 subsea vessel beneath building. The firm’s operations are managed from Aalesund, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a complete of two,100 staff engaged onshore and offshore. The firm’s technique is to be a number one high quality supplier of enormous, fashionable offshore service vessels to the oil business.