Farstad Shipping Reports 2Q and 1st Half Year Results

Farstad Shipping announces that it has achieved an operating income of NOK 996.6 million for the 2nd quarter.

The operating profit (EBIT) was NOK 205.4 million and the profit after taxes was NOK 4.1 million.

The operating income at 30.06.13 was NOK 1,911.4 million. The operating profit (EBIT) was NOK 378.7 million and the profit after taxes was NOK 86.2 million.

Farstad Shipping’s fleet currently consists of 59 vessels (30 AHTS, 26 PSV and 3 SUBSEA) and 2 PSV, 2 AHTS and 1 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.

Press Release, August 21, 2013