Maersk Supply Service to Reduce Fleet, Axe 400 Workers

Maersk Supply Service announced Thursday that it will reduce its fleet by up to 20 vessels over the coming 18 months, making around 400 crew members redundant in the process.

The divestment plan is a response to vessels in lay-up, limited trading opportunities and the global over-supply of offshore supply vessels in the industry, according to a company statement. The first ten vessels are expected to exit the fleet within the next four months.

“One of Maersk Supply Service’s prime objectives is to attempt to restore the supply demand balance in the offshore supply market. This is why the vast majority of the divested vessels will be recycled or modified by their new owners to compete outside their present segments,” said CEO of Maersk Supply Service, Jørn Madsen.

“We are facing unprecedented market conditions, and regrettably we have to further adjust our crew pool. It is an unfortunate, but necessary step to safeguard the future of our company,” he added.

The redundancy process will be covering all nationalities and is expected to be finalised by the end of September.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petronas: LNG Train 9 in Sarawak Moves... (Jan 23)
 -  Xodus Wins Apache North Sea Well Contr... (Jan 23)
 -  FAR: SNE 5 Appraisal Well Spuds Offsho... (Jan 23)
 -  Shell to Reshuffle Head of Exploration... (Jan 23)
 -  Scottish Government Reveals New Subsea... (Jan 20)


Most Popular Articles

From the Career Center
Jobs that may interest you
United States Duncan: Administrative Specialist
Expertise: Secretarial or Administrative
Location: Duncan, OK
 
Administrative Assistant
Expertise: Secretarial or Administrative
Location: Mobile, AL
 
Document Control Specialist
Expertise: Document Control
Location: Columbus, GA
 
search for more jobs

Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours