Farstad Shipping Awarded $57 Million in Charter Contracts

Far Scotsman, a PSV built in 2012 by STX OSV Langtse. Image: Farstad

Norwegian offshore supply vessel owner and operator, Farstad Shipping ASA announced today they have been awarded the following charter contracts worth NOK 32o million:

Client: Statoil

PSV Far Spica (2013, PSV 08 CD, 4,000 DWT) and PSV Far Scotsman (2012, PSV 08 CD, 4,000 DWT) have been chartered to support of drilling operations on the coast of East Africa. Commencement is expected to take place in April 2013. The duration of the contracts will be approx. 9 months, with a further 9 month option. Both vessels will leave the North Sea during the month of March.

Client: Technip UK

PSV Far Star (1999, UT 745, 4,403 DWT)  has been placed on a 60 day contract with a 30 day option, to support the Technip activities in Brazil. Far Star has already left the North Sea.

Client: Perenco Brasil

Perenco Petroleo e Gas do Brasil has awarded a 12 month contract with a 6 month option to AHTS Far Sagaris (2009, UT 731 CD, 24,000 BHP) to support the Ocean Star drilling campaign in Brazil. Commencement of the contract is expected to take place during 1st quarter 2013.

Client: Fugro RUE

Fugro RUE AS in Norway has awarded the IMS vessel Far Saga (2001, UT 745 L) a 6 month contract with options thereafter. Commencement is set to mid-February. The contract includes ROV support operations and other subsea related activities in the North Sea.

Client: Petrobras

Petrobras has declared their 292 day option to extend the contract for the AHTS Far Sea (1991, ME 303 II, 13.200 BHP).

As a result of the contract listed above, three PSVs will be mobilized out of the North Sea which Farstad notes will have a positive impact on the market balance in the region. Farstad Shipping has recently also mobilized AHTS Far Sabre from the North Sea to Australia.