Norway: Farstad Sells Two Anchor Handlers

Farstad Shipping ASA has, through its wholly owned subsidiaries P/R International Offshore Services ANS and Farstad Shipping Pte. Ltd, reached an agreement to sell the AHTS Lady Gerda (1987, Hart Fenton, 8.700 BHP) and the AHTS Lady Cynthia (1987, Hart Fenton, 9.500 BHP).

Delivery of the vessels to the new owner is expected to take place during May 2012. The agreed sales price of the vessels is approximately equal to the book value, which is below the value estimates obtained from brokers at year-end.

After the sale of these two vessels, Farstad Shipping has during a short period of time sold 5 of 7 vessels built during the 1980s.

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Soure: Farstad Shipping, April 16, 2012