Extreme stress facing the offshore support vessel market was painted throughout the second quarter report of leading shipbuilder Vard Holdings.

All of the staff at Norwegian facility Vard Brevik has been “temporarily” laid off due to a shortage of work, Vard said as it revealed a second quarter loss today.

As it released results impacted by the restructuring of Rem Offshore, Vard explained the doors at Vard Brevik would remain closed while it seeks new opportunities for the facility and the arrival of hulls under construction in Romania.