Fairstar Awarded $1.9 Million Transportation Contract by Van Oord

October 12, 2010

Fairstar Heavy Transport N.V. (FAIR) has been awarded a transportation contract by Van Oord Ship Management B.V. The Fairstar semi-submersible vessel FJELL will sail to the Sakhalin peninsula in Russia to load a cargo of split hopper barges, a cutter suction dredger and other related dredging equipment. The FJELL will sail to Sakhalin immediately after discharging the Fugro Seacore’s Eunsung 1200 rig in Dampier.

Judith van den Dood, a member of the Client Services Team at Fairstar stated: “This is our first opportunity to work for Van Oord, one of the world’s leading Marine Contractors. Safely moving their valuable dredging assets out of Sakhalin before winter ice sets in will require the planning and preparation we believe distinguishes Fairstar from low-cost competitors.

Weather risk in colder climates adds an additional dimension of complexity to this project. Our crews have been well-trained to operate in a harsh loading environment and we are determined to deliver this cargo safely and reliably to Singapore.”

The total contract value is USD 1.9 million. The transit time is 12 days from Sakhalin to Singapore.

“The FJELL has found a valuable niche in the current spot market. We expect FJELL to continue to book cargoes in the next few months that will improve overall fleet utilization at attractive rates”, stated Willem Out, Managing Director Fleet.

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Source: fairstar, October 12, 2010