Vessel delivery and long-term financing

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Jan 2010

"Far Shogun" (AHTS UT731CD) has been delivered from STX Norway Offshore AS, Langsten, to Farstad Supply AS, a wholly owned subsidiary of Farstad Shipping ASA. The vessel will trade the spot market in the North Sea. A long-term facility of NOK 400 million has been drawn with Fortis Bank
(Nederland) N.V, Oslo Branch to finance the vessel.
Farstad Shipping's fleet currently consists of 57 vessels (24 PSV, 30 AHTS and 3 SUBSEA) and 1 AHTS under construction at Norwegian yard. The company's operations are run from Alesund, Aberdeen, Melbourne, Singapore and Macae by a
total of 1.700 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.  We also remain committed to solid long-term charter profile for the fleet.

Source: Farstad Shipping