Farstad Shipping has delivered the platform supply vessel (PSV) "Sical Torino" (VS470 MKII 3,570 DWT) on 24 September to Farstad Shipping Pte Ltd, Singapore, a wholly owned subsidiary of Farstad Shipping ASA. The purchase of the vessel, renamed "Far Swan", is facilitated by internal financial resources. However, a long-term financing will soon be arranged by Nordea.

Woodside Australia has awarded the vessel an 18 months contract (+18 months option). Start-up of the contract will be December depending on when the DP SS Maersk Discovery Rig is in position in Australian waters.

Farstad Shipping also announces the following new charter contracts:

Petrobras has extended the contracts for Far Sailor (AHTS, UT 722, 1997), Far Senior (AHTS, UT 722 L, 1998) and PSV Far Swift (UT 755 L, 3.084 dwt) all for a period of 2 years in Brazil. Petrobras has an option to extend the contract for Far Swift for further 5 months. The extensions are made on a lower rate level than the existing contracts.

Total value of the contracts with options is approx. NOK 580 million with todays exchange rates.

Tags: Farstad Shipping