Danish OSV owner Blue Star Line has filed for bankruptcy after two vessel charters were cancelled.
The Faaborg company, which has eight ships, was also hurt by the offshore shipping slowdown, which has seen five units idled or laid up.
Tom Hald, director and principal shareholder, said in a statement cited by Maritime Denmark: "A really bad year in 2017 [was] followed by a poor result in 2018, which unfortunately has continued into 2019.
