Farstad Shipping ASA – Cost reductions at the office in Aalesund
Farstad Shipping continues its efforts to prepare the company for the future. Now, the company initiates a process with the aim of reducing administrative expenses at the office in Aalesund. The employees have today been informed about the process, which will conclude by the end of February 2016.
- The current market situation is challenging. In order to strengthen the company's competitiveness, we are working continuously to keep costs at the right level, says Karl-Johan Bakken, CEO of Farstad Shipping.
As part of a larger process, Farstad Shipping has since 2014 implemented a number of cost-saving measures both onshore and offshore. The company's branch office in Aberdeen has been closed down, it is carried out redundancies and layoffs among seafarers, sales of older vessels are completed and seven vessels are currently laid up in the North Sea region. Further measures are expecting ahead.
- By initiating these measures, we are preparing for the future. Our advanced fleet as well as a sharpened organization with much expertise will secure our position as a leading player in our industry, Bakken says.
Contacts:
CEO Karl-Johan Bakken – tel. +47 901 05 697
CFO Torstein L. Stavseng – tel. +47 911 07 001
Farstad Shipping’s fleet currently consists of 59 vessels (30 AHTS, 23 PSV and 6 SUBSEA) and 1 SUBSEA vessel under construction. The company’s operations are managed from Aalesund, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of 2,100 employees engaged onshore and offshore. The company’s strategy is to be a leading quality provider of large, modern offshore service vessels to the oil industry.