China: Fairstar Announces Keel Laying for Semi-submersible Vessel FINESSE

Fairstar Heavy Transport N.V. announces that the keel for the 50,000DWT semi-submersible vessel FINESSE was laid into the dry dock facility in Qidong, China where Guangzhou Shipbuilding International (GSI) in constructing both the FORTE and the FINESSE for Fairstar.

Willem Out, Fairstar’s Chief Operating Officer, commented from Qidong: “With the FORTE now floating at quayside, the FINESSE is now underway in the dry-dock. 240 blocks of the 272 total required for this design have been constructed and delivered to the shipyard. GSI is already ahead of the scheduled time required to produce the same amount of blocks for the FORTE.

We continue to be impressed with the quality of material, the professional organization and the close spirit of cooperation we experience every day with GSI.

We are mindful of the additional challenges now posed by having two ships under construction simultaneously. However we are certain that GSI has the necessary resources to finish both the FORTE and FINESSE on schedule. We look forward to inviting our shareholders to witness the floatation of the FINESSE out of the dock in 2012.”