Viking Supply Ships lays up another vessel

Viking Supply Ships A/S, a supply shipping company based in Kristiansand, Norway, has decided to lay up Odin Viking with immediate effect, citing poor market conditions within the conventional AHTS market.

The company says it will start negotiations with the employees and respective unions in order to assess the crewing situation going forward with the ambition to minimize lay-offs.

Viking Supply Ships has already implemented a cost reduction program, reducing the yearly operational costs with NOK 45 million ($5.3M). Namely, in September 2015, Viking Supply laid up three Platform Supply Vessels (PSVs).

As a response to the weak market, the company will further initiate a new Market Adaption Program, with an ambition of additional yearly savings of up to NOK 70 million ($8.3M), Viking Supply Ships said in a press release.

As a result of parts of the fleet being laid up, the company also says it will make impairment on the PSV fleet, which will have a negative effect on the third quarter results.

Share this article

Follow Offshore Energy Today

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply