Farstad Shipping wins new AHTS contracts

Norwegian provider of offshore vessels Farstad Shipping has been awarded several new charter contracts for its anchor handling tug supply (AHTS) vessels in Australia. 

Inpex has awarded contracts to the AHTS Far Sabre (2008, UT 712 L, 14.688 BHP) and the AHTS Far Sound (2007, UT 712 L, 14.688 BHP). The contracts are expected to start in early January 2015 and last for approx. 140 days, with further up to 18 months options.

The AHTS Far Strait (2006, UT 712 L, 14.688 BHP) and the AHTS Far Scimitar (2008, UT 712 L, 14.688 BHP) have been awarded contracts by Murphy Oil for a fixed period of 3 wells (approx. 60 days). Expected start will be middle January 2015.

In addition, the AHTS Far Strait (2006, UT 712 L, 14.688 BHP), the AHTS Far Scimitar (2008, UT 712 L, 14.688 BHP) and the AHTS Lady Caroline (2003, UT 712, 12.240 BHP) have been awarded a contract by BHP Billiton with expected start date in middle March 2015. The contract is for a firm duration of 330 days with further up to 300 days options. The contracts for Far Strait and Far Scimitar will be in direct continuation of existing contracts.

Farstad says that the total value of the contracts, excluding options, is approx. NOK 350 million ($47.68 million).

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