OSLO, Feb 2 (Reuters) – Owners of ships serving the oil business shall be exempt from paying license charges for 2016 on vessels which have been mothballed, Norway’s business minister stated in an announcement on Tuesday.

The value of crude oil has plunged 70 % since mid-2014, resulting in cutbacks in oil business investments and decrease demand for provide ships, anchor handlers and development vessels.

The charge per ship registered in Norway is about 35,000 Norwegian crowns ($4,000) per 12 months, and the business’s total financial savings are anticipated to quantity to round 2.3 million crowns for the 12 months, Industry Minister Monica Maeland stated.

($1 = 8.7037 Norwegian crowns) (Reporting by Terje Solsvik, modifying by Stine Jacobsen)

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