Farstad Sells Lady Kari-Ann PSV

Farstad Shipping ASA has, through its wholly owned subsidiary P/R International Offshore Services ANS, sold the PSV Lady Kari-Ann (1982, ME 202, 2,972 DWT).

Delivery of the vessel to the new owner took place Tuesday 21 May 2013.

Sale of the vessel will give a booked profit of approx. NOK 3.5 mill. in the 2nd quarter 2013.

After the sale of Lady Kari-Ann, Farstad Shipping’s fleet consists of 57 vessels (29 AHTS, 25 PSV and 3 SUBSEA) and 3 PSV, 3 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 2080 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.

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Press Release, May 22, 2013