Farstad Secures Three Charter Contracts

Farstad Shipping ASA has been awarded three charter contracts for two AHTS and one PSV vessel.

Shell Brasil has awarded a 6 month contract with a two month option to the AHTS Far Senator (2013, UT 731 CD, 24,000 BHP) to support Shell’s drilling campaign in Brazil. AHTS Far Senator will leave the North Sea during October 2013.

Total E&P do Brasil has awarded the PSV Far Swift (2003, UT 755 L, 3,084 DWT) a 6 month contract to support their drilling campaign in Brazil. The vessel is currently trading in Brazil, and commencement of the new contract is expected to take place during November 2013.

Petrobras has declared their 5 month option to extend the contract for the AHTS Far Sailor (1997, UT 722, 16,800 BHP) commencing October 2013.

Total value of the contracts, excluding options, is approx. NOK 150 mill (USD 25.3 million).

Farstad Shipping, September 17, 2013