Farstad Shipping ASA – Charter Agreements

TIN news:  Farstad Shipping ASA (OSE:FAR) has been awarded the following charter contracts in Australia
ConocoPhillips Australia Exploration has issued a LOI to the AHTS Far Sirius (2014, UT 731 CD, 24,371 BHP) and the AHTS Far Saracen (2010, UT 731 CD, 23,664 BHP) to support their upcoming Barossa drilling campaign. This campaign is due to commence in January 2017.
The INPEX- led Ichthys LNG Project has extended the AHTS Far Sword (2006, UT 712L, 16,000 BHP) contract with additional 17 months starting from 31 March 2018.
McDermott’s Australia has awarded the PSV Far Seeker (2008, UT 751 E, 9,466 BHP) a contract for a period of 40 days firm plus 40 days options. The contract is due to commence within December 2016.
McDermott’s Australia has also awarded two AHTS vessels contracts to assist with the mooring operations of the INPEX-led Ichthys LNG Project’s Central Processing Facility and FPSO. This is due to commence within Q2 2017.
The commercial terms of the agreements will be kept private and confidential between the parties.
– This is a clear demonstration of the ongoing standing of Farstad Shipping within Australia as the market leader and provides the Australian operations with a strong foundation heading into 2017, says Karl-Johan Bakken, CEO of Farstad Shipping ASA.
Farstad Shipping’s fleet currently consists of 55 vessels (27 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 1,725 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.