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Charter Agreements


June 9, 2011 - London

Farstad Shipping has been awarded the following charter contracts:

 

AHTS Far Strait (2006, UT 712L, 14.688 BHP), AHTS Lady Caroline (2003, UT 712, 12.240 BHP), PSV Far Spirit (2007, VS 470 MK II, 3.624 DWT) and PSV Lady Grace (2001, UT 755, 2.936 DWT) have all been extended for 365 days while AHTS Far Stream (2006, UT 712L, 14.688 BHP) and PSV Far Swan (2006, VS 470 MK II, 3.628 DWT) have been extended for 180 days.All vessels are on charter with Woodside in Australia in support of their drilling and/or production operations.

 

In addition Esso Australia has exercised another 3 month option for PSV Lady Kari-Ann (1982, ME 202, 2.972 DWT). The vessel will remain supporting Esso's offshore production operations in Bass Strait.

 

Total value of the contracts is approximately NOK 380 million.

 

 

 

 

 

Contacts:
CEO Karl-Johan Bakken - tel. +47 901 05 697
CFO Torstein Stavseng - tel. +47 911 07 001

 

 

 

 

Farstad Shipping's fleet currently consists of 57 vessels (32 AHTS, 23 PSV and 2 SUBSEA) and 6 PSV under construction. The company's operations are run from Aalesund, Aberdeen, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro by a total of 1900 employees onshore and offshore. The company's strategy is to be a major international supplier of large, modern offshore service vessels to the oil industry.We also remain committed to solid long-term charter profile for the fleet.

 

www.farstad.com

 

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.



This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Farstad Shipping ASA via Thomson Reuters ONE

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