The Grimaldi-owned company said it has started negotiations concerning the 36 crew of the 32,500-gt Finnhansa (built 1994), as a disposal could result in lay-offs.

It added: "The operative use of the vessel has been unprofitable for a longer period and the changes in environmental legislation, especially the so-called sulphur directive entering into force 1.1.2015, have brought the company to make initial plans concerning the sale of the vessel."

It