They made the worlds’ first wellboat simulator. Now the company has declared bankruptcy

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Fosnavåg Ocean Academy has announced bankruptcy.

This is listed on the estimate list for the Søre Sunnmøre district court, where the first shift collection will be held February 25.

SalmonBusiness mentioned the company in January 2018 when the company had an opening of a wellboat simulator. The company owners are Sølvtrans, Havila Shipping, Remøy Shipping, Olympic Shipping and STQ.

The bankruptcy was first mentioned in Nett.no

Fosnavåg Ocean Academy had a turnover of EUR 97.000 (NOK 983,000) in 2018 and an operating profit of minus EUR 197.000 (NOK 2 million) The total debt is EUR 1.900.000 (NOK 20 million), according to proff.no.

“We have not had the necessary turnover to pay our obligations. The company has felt the offshore crisis, and has tried to adapt, among other things, by diversifying towards wellboats and aquaculture. But neither has generated enough revenue,” explains chairman Robin Halsebakk to Finansavisen.

According to Halsebakk, it is Sølvtrans who has the ownership rights to the simulator, but the co-ordinator has the responsiblity.