Bryggen, the Norwegian product and chemical tanker operator, is scaling back its fleet in response to the poor market.
The Bergen-based company has reduced its fleet to three ships taken on period contracts compared with 20 on time charter in 2016.
“We have a flexible approach when it comes to the size of the fleet. It is an advantage, when it comes to avoiding losses, but makes it more challenging to secure employment for our shore staff,” said Tim Haagensen, who owns Bryggen with his father, Tore.
