Viking Supply Ships Latest to Announce PSV Lay-Ups

PSV Idun Viking. Photo: Supply Supply Ships

Swedish shipowner Viking Supply Ships says that due to the continued market the company is forced to lay up three platform supply vessels.

The vessels impacted are Idun Viking, Frigg Viking and Nanna Viking.

Viking said that since the crews for the vessels is provided by an external ship manager, the lay ups will not have any impact on employees of Viking Supply Ships AS.

“The decision will reduce the company’s operational costs going forward and will give a positive impact on the results from fourth quarter 2015, with full effect expected from first quarter 2016,” Viking said in a statement.

“Viking Supply Ships A/S will support the ship manager in finding alternative vessels for the crew members on the three vessels,” the company added.

Viking Supply Ships owns a fleet of 5 PSVs and 8 AHTS, comprised of 3 AHTS/Icebreakers, 4 Ice classed AHTS along with one conventional AHTS. The remaining two PSVs, Freyjo Viking and Sol Viking, are on charter with different companies through 27 September and 9 October, respectively.

The crash in oil prices over the past year has severely weakened the market for offshore supply vessels particularly the spot market for PSVs and AHTSs in the North Sea and also worldwide, which has lead to lay-ups from a growing list of shipowners operating within the segment. Forecasts are calling for continued weak market through 2015 and into 2016. 

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