Vessel Delivery and long-term financing

"Far Serenade" (PSV UT751CD) has today Tuesday 31st March been delivered from STX Norway Offshore AS, Brevik, to Farstad Supply AS, a wholly owned subsidiary of Farstad Shipping ASA. The vessel will immediately commence on a long-term contract for StatoilHydro.

A long-term facility of NOK 280 million has been drawn with Eksportfinans ASA to finance the vessel. The loan is guaranteed by Fokus Bank.

 

Farstad Shipping's fleet currently consists of 53 vessels (24 PSV, 28 AHTS and 1 CSV) and 4 vessels (4 AHTS) under construction at Norwegian yards. The company's operations are run from Ålesund, Aberdeen, Melbourne, Singapore and Macaé by a total of 1550 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.