Viking Supply Ships announces changes to its Russian operations

Press release

Viking Supply Ships (VSS) considers Russia to be a core region for its service offerings, and of significant importance for the company in the future. Russia holds significant oil and gas resources in its Arctic and Sub-arctic regions and has shown determination to pursue these in the years to come. To explore such opportunities and strengthen its footprint in Russia, VSS has entered into a strategic cooperation with Sevnor Ltd, a shipping and offshore company with extensive presence in the Russian offshore market.

As a consequence, VSS has decided to close down its own offices in Moscow and Sakhalin. Future operations will be run in cooperation between the company and Sevnor Ltd.

For further information please contact:  

Bengt A. Rem, Interim CEO, tel. +47 94 01 71 71, e-mail bengt.rem@kistefos.no 

Morten G. Aggvin, IR & Treasury Director, tel: +47 41 04 71 25, mga@vikingsupply.com.

Viking Supply Ships AB is the parent company of a Swedish shipping group with its main office in Gothenburg, Sweden. The Group conducts its business in four segments: Anchor Handling Tug Supply ships (AHTS), Platform Supply Vessels (PSV), Services and Ship Management. The business is focused within offshore and ice-breaking primarily in Arctic and subarctic areas. The Group has approximately 500 employees and its revenue for 2015 amounted to MSEK 1.114. The Company’s series B share is listed at Nasdaq Stockholm, Small Cap segment. www.vikingsupply.com.

The information was submitted for publication, through the agency of the contact person set out above, at 16.45 CET on 12 December 2016.