Prosafe has set a target to reduce its annual costs by at least $30m to $40m through reducing its workforce.

The Cypriot floatel owner did not reveal how many jobs would be lost but said its rationalisation programme includes “a substantial head-count reduction across the group”.

Attempts to reach acting chief executive Stig H Christiansen were unsuccessful this morning.

This is part of the company’s wider restructuring plan which will also see current deputy chief executive Robin Laird assume the position of acting chief financial officer (CFO).

Christiansen