Farstad Orders Subsea IMR Vessel from Vard

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.

[mappress]
August 22, 2013