Norway: Farstad Announces Charter Agreements with Petrobras, Shell and Subsea 7

Farstad Shipping announces it  has been awarded the following charter contracts:

Subsea vessel Far Saga (2001, UT 745L, 3.475 DWT) has been awarded a 6 month firm contract by Subsea 7 in Norway. The charter will commence immediately and include an option for further 15 months.

AHTS Far Sabre (2008, UT 712L, 15.900 BHP) has been awarded a 5 month firm contract by Shell in Brazil. The charter will commence immediately and include an option for Shell for further 3 x 1 month.

Petrobras has exercised their option to extend the contract for AHTS Far Scout (2001, UT 722L, 18.000 BHP) for further 144 days.

The total value of the contracts, exclusive options, is approximately NOK 105 million.

105 million Norwegian kroner = 18.780825 million U.S. dollars

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Source:Farstad,March 30, 2011