Norway: Farstad Announces Vessel Delivery and Long-term Financing

Farstad refers to press release of 15 July 2010. The platform supply vessel (PSV) “Seabed Viking”, has yesterday, Tuesday 24 August, been delivered to Farstad Shipping Limited, a wholly owned UK subsidiary of Farstad Shipping ASA.

The vessel will be renamed “Far Server”. The vessel is currently on charter to AGR Petroleum Services AS.

A long-term facility of NOK 215 million has been drawn with DnB NOR Bank ASA to finance the vessel.

Farstad Shipping’s fleet currently consists of 58 vessels (32 AHTS, 24 PSV and 2 SUBSEA). The company’s operations are run from Aalesund, Aberdeen, Melbourne, Singapore and Macaé by a total of 1820 employees onshore and offshore. The company’s strategy is to be a major international supplier of large, modern offshore service vessels to the oil industry. We also remain committed to solid long-term charter profile for the fleet.

[mappress]

Source: Farstad, August 25, 2010: