Viking Supply to be debt-free as it cuts loss

Sweden's Viking Supply Ships (VSS) will soon be debt-free following vessel sales, but expects a tough OSV market this year.

The Christen Sveaas-owned company, which despite its name now has no supply ships, said the net loss including discontinued operations for the fourth quarter was SEK 123m ($13.33m), down from SEK 132m in 2017.

It was boosted by an SEK 18m cash contribution from selling its last three small bulkers, with profit of SEK 4m from the deal.