Oslo-listed Farstad Shipping is now in the process of closing the doors of its Aberdeen office, bringing an end to its UK presence after about 26 years, as cost sensitivity, falling demand and vessel oversupply continue to batter the offshore sector.

The North Sea is a key area for globally focused Farstad, which has 32 anchor handling tug supply (AHTS) vessels, 26 platform supply vessels (PSVs), one subsea vessel and three under construction.