Farstad Shipping ASA – Charter Agreements
Farstad Shipping ASA has been awarded the following charter contracts:
QUEIROZ GALVÃO EXPLORAÇÃO E PRODUÇÃO S.A. has awarded a 2 year contract to the AHTS Far Sagaris (2009, UT 731 CD, 23,664 BHP) to support their drilling program in Brazil. Commencement of the contract will take place between December 2015 and January 2016. Charterer has the option to extend the contract up to 2 additional years. The vessel is presently in layup in Norway and will have some additional equipment installed before she will be departing for Brazil.
Saipem SA has awarded the CSV Far Samson (2009, UT 761 CD, 32,640 BHP / 250 t Crane) a contract of 9 months duration to support their activity in Brazil. Commencement of the contract will take place during Q3 2015. Furthermore, Saipem has awarded the Far Samson a 1 year contract from October 2016 with a further 2 x 1 year option.
An international oil company has awarded a contract to the PSV Far Spica (2013, PSV 08 CD, 4,000 DWT) to support their activity on the UK shelf. Commencement will take place in August 2015, and duration of the contract will be 14 months with a further 6 x 1 month option. The vessel has been laid up in Norway since early May.
PSV Far Solitaire (2012, UT 754 WP, 6,336 DWT) has been awarded a contract by an international oil company for operation on the Norwegian Continental Shelf. Commencement is expected to be in September/October 2015, and the firm period is until 15 December 2016. The charterer has the option to extend the contract with in total 2 additional years.
Total value of the contracts, excluding options, is approx. NOK 600 mill.
Contacts:
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 61 vessels (31 AHTS, 25 PSV and 5 SUBSEA) and 2 SUBSEA vessels under construction. The company’s operations are managed from Aalesund, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of 2,200 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. The company maintains a long-term charter profile for the fleet.