Norway: Farstad Sells Far Sleipner PSV

Farstad Supply AS, a wholly owned company of Farstad Shipping ASA, has reached an agreement to sell the PSV Far Sleipner (1984, ME 202, 3.067 DWT).

The vessel has recently finished its charter party with Petrobras in Brazil. Delivery of the vessel to the new owner is expected to take place by the turn of the month May/June.

The agreed sales price of the vessel is approximately equal to the book value which is below the value estimates obtained from brokers at year-end.

After the sale of Far Sleipner Farstad Shipping’s fleet consists of 57 vessels (32 AHTS, 23 PSV and 2 SUBSEA) and 4 PSV under construction. The company’s operations are run from Aalesund, Aberdeen, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro by a total of 1900 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.

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Source: Farstad , May 19, 2011;