John Frediksen’s offshore support vessel firm Deep Sea Supply now has 20 vessels laid up, more than half its fleet.
In its latest set of results, the company revealed it had laid up an additional three vessels from its fleet of 37, and now has 13 PSVs and seven AHTS vessels out of action.
The company said that in addition to laying up vessels to reduce costs, it is also working to further reduce operating expenses for vessels in operation. It also said that the board is actively considering alternative use of the fleet, including the use of vessels for acquaculture as well as other sectors.
Deep Sea Supply posted third quarter revenues of $10.2m, recording a pre-tax loss of $8m.