Sweden’s Viking Supply Ships (VSS) has laid up its last two platform supply vessels (PSVs), Sol Viking and Freyja Viking, in response to the difficult North Sea market.

VSS expects the move positively impact its results in the second quarter 2016. The decision follows the lay-up of PSVs Idun, Frigg and Nanna Viking in the third quarter of 2015.

“All of the PSVs have been trading in the spot market for the last year and a half, and at the current rate we just cannot justify keeping them in business,” VSS treasury director Morten Aggvin told Seatrade Maritime News. “The company has been quite focussed around the Anchor Handling, so PSVs have not been the core business. But naturally, it is not positive to have five vessels laid up.

"We have said for two or three years that the vessels are for sale, but in the current market it’s difficult to see that there will be very much activity going forward.”