2013-08-21 17:54:02 -
Farstad Shipping ASA has, through its wholly owned subsidiary Farstad Supply AS,
reached an agreement with Vard Group AS to build one subsea/IMR vessel. The
steel hull of the vessel will be built by Vard yard in Tulcea, Romania and
outfitting will take place at Vard Langsten in Tomrefjord.
The vessel is of VARD 3 07 design (Offshore Subsea Construction Vessel), and is
designed for subsea and IMR operations (Inspection, Maintenance and Repair),
identical to the subsea/IMR vessel ordered by Farstad Shipping in February 2013.
This new building is part of Farstad Shipping's expansion into the subsea market
and represents an investment of approx. NOK 825 mill. Delivery of the vessel
will take place in July 2015.
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 59 vessels (30 AHTS, 26 PSV and
3 SUBSEA) and 2 PSV, 2 AHTS and 2 SUBSEA under construction. The company's
operations are managed from Aalesund, Aberdeen, Melbourne, Perth, Singapore,
Macaé and Rio de Janeiro with a total of 2100 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.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
VARD 3 07:
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Source: Farstad Shipping ASA via Thomson Reuters ONE