Farstad Shipping has sunk to a second quarter loss of NOK 961.6 ($116m) on the back of substantial right downs on its fleet.
The Oslo-listed shipowner made impairments of NOK 862.4m as compared to NOK 170m in the corresponding period last year.
Revenue for the quarter was down almost 30% year-on-year to NOK 735m, while operating costs eased by nearly 24% to NOK 512.9m.
Farstad’s
