CSV Far Sentinel clinches 3-year gig in Gulf of Mexico

  • Business & Finance

Farstad Shipping ASA, a Norwegian shipping company, has been awarded a 3-year contract with further up to 3 years options for CSV Far Sentinel by Subtec S.A. de C.V.

The contract is for delivery of light construction work, IMR and other subsea related activities in the Gulf of Mexico.

“This is an important and significant contract for Farstad Shipping. It proves that even in a very challenging market, we are able to conclude long-term contracts for our vessels. This contract secures valuable competence and activity for our employees,” says CEO Karl-Johan Bakken.

“By this, we have now signed important contracts for both our subsea new buildings delivered in 2015. We hereby confirm Farstad Shipping’s strong position into the subsea market, which is vital for us in the time ahead,” Bakken says.

The beginning of the contract is planned to be within December 2015. Farstad Shipping did not reveal the commercial terms of the agreement.

The Far Sentinel is designed for subsea construction/IMR operations to 3,000 meters water depth, has an overall length of 142.6 meters, beam of 25 meters and a deck area of 1,800 m². The vessel is equipped with two offshore cranes, of which the larger one has a lifting capacity of 350 tons.

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