Farstad Shipping is to close its management office in Melbourne and run its Australian operations from its office in Perth.
Some 35 jobs will be lost as a a result of the closure, reducing Farstad’s onshore workforce in Australia to around 30 employees, the Oslo-listed operator of offshore support vehicles (OSVs) said in a release.
Farstad’s CEO, Karl-Johan Bakken, called the lay-offs “the unfortunate result of a necessary capacity adjustment” while oil prices and OSV markets remain depressed.
“In addition to working on establishing an overall refinancing plan, we are continuously working on structural solutions in order to secure our competitiveness and to align with the market and the needs of our clients,” the CEO added.
