Farstad Shipping, which notched up a 49% increase in quarterly net profit to Nkr46.7 million ($7.7 million) as revenue rose 14% year on year to just over Nkr1 billion due to fleet expansion, now has contract coverage for 66% of its fleet this year and 43% for 2015, including options.
“Uncertainty about the development of the oil price and the oil companies’ focus on costs have so far not been reflected in a reduced activity level offshore,” it stated.
Major
