Norway: Farstad Awarded Charter Contract for Far Splendour PSV

Farstad Shipping has been awarded the following charter contract:

Peterson SBS has declared their one year option for PSV Far Splendour (2003, Ulstein P106, 3503 DWT) for continuous operation within the Dutch sector. The option is settled at improved rate level and is agreed between the parties to be held P&C.

The one year option period commences on the 29th December 2010, and Far Splendour will now be commencing her 8th year working with Peterson SBS.

Farstad Shipping ASA is a major international supplier of large, modern offshore support vessels.

The company’s head quarter is located in Aalesund on the North West coast of Norway. In addition we have offices in Aberdeen in Scotland, Melbourne in Australia, Singapore and in Macaé in Brazil. Through a joint venture we also have presence in Angola. The total number of shore personnel is 170 and the number of sailors is approximately 1,650.

Farstad Shipping has a fleet of 58 vessels. In 2009 the freight income was earned in the following markets: 24.9% in North West Europe, 47.5% in the Far East/ Australia, 24.1% in Brazil and 3.4% in other regions.

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Source: Farstad, November  10, 2010;