Farstad Shipping ASA – Report 1Q 2016

Attached please find Report 1Q 2016.

Farstad Shipping achieved an operating income of NOK 827.2 mill. for the 1st quarter. The operating profit (EBIT) was NOK 48.1 mill. The profit after taxes was NOK 94.2 mill.

Contacts for further information:

CEO Karl-Johan Bakken –  tel. +47 901 05 697

CFO Torstein L. Stavseng – tel. +47 911 07 001

Farstad Shipping’s fleet currently consists of 57 vessels (29 AHTS, 22 PSV and 6 SUBSEA) and 1 SUBSEA vessel under construction. The company’s operations are managed from Aalesund, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of 1,885 employees engaged onshore and offshore. The company’s strategy is to be a leading quality provider of large, modern offshore service vessels to the oil industry.

www.farstad.com

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