Farstad Shipping lays up two PSVs, lays off 35 staff

Farstad Shipping lays up two PSVs, lays off 35 staff

Oslo: Norwegian offshore owner Farstad Shipping has said that it has laid up two PSVs, Far Server (4,000 dwt, built 2010) and Far Spica (4,000 dwt, built 2013).

The company cites the weak offshore market for the lay ups, it now has three in total laid up, and also revealed that it has given notice to 35 employees. According to its website, Farstad has 2,200 employees in total.

Karl-Johan Bakken, ceo of Farstad Shipping, commented: “We are currently experiencing a very demanding offshore market. Consequently, we have to lay up two vessels and give notice to competent employees. We regret this. Our focus onward is to secure new contracts for our crews and vessels.”

Earlier today, Farstad announced that it had sold PSV Far Superior (3,796 dwt, built 1990) at a booked loss of around NOK15m ($2m).

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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