Viking Supply Ships’ whole PSV fleet stacked

Norwegian supply shipping company, Viking Supply Ships, has decided to lay up its two remaining active platform supply vessels (PSVs) leaving the company with no active PSVs. 

Namely, the PSVs Sol Viking and Freyja Viking, built in 2006 and 2007, respectively, will be laid up with immediate effect.

The Norwegian company explained the vessels are being laid up due to a continued weak PSV market.

The company’s other three PSV vessels, Frigg Viking, Idun Viking and Nanna Viking, were laid up in September 2015.

The shipping company said that the decision would reduce the company’s operational costs going forward and will give a positive impact on the results from second quarter 2016.

Viking Supply Ships’ compatriot, Island Offshore, also recently laid up two PSVs due to low activity, bringing the number of Island Offshore’s PSV in lay-up to four.

Another provider of platform supply vessels, World Wide Supply, recently experienced problems similar to the one Viking Supply Ships is having as the company’s two remaining active PSV vessels were blocked by Brazilian local tonnage. If this shipping company loses these two contracts, it will leave the company with no active vessels.

Offshore Energy Today Staff

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