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>

<< Sep 2019 >>
MTWTFSS
26 27 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 2 3 4 5 6

Offshore Energy Exhibition and Conference (OEEC)

The three-day event features an exhibition where over 600 companies will showcase their products and services…

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

read more >

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >

Africa Oil & Power 2019

The Africa Oil & Power conference will bring together an elite class of ministers and senior-level government…

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