Farstad Announces Sale of AHTS

Wednesday, August 22, 2007
International Offshore Services ANS, a wholly owned company of Farstad Shipping ASA, has reached an agreement to sell the AHTS Lady Margaret. Buyer of the vessel is Vigeo Ltd, Farstad Shipping's joint venture partner in Nigeria. The vessel is of design ME505 (BHP 8850) built in Australia in 1993. Delivery to the new owner will take place at the turn of August/September.

Vigeo will also take over Farstad Shipping's part in the joint venture being the company in charge of the operations in Nigeria. Due to the prevailing safety situation in Nigeria Farstad Shipping has decided to withdraw from that market.

The price for the vessel is $14.5m. This will give a booked profit of approx.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Norsafe Secures Contract with VARD Group

Norsafe informs it has signed a new contract with VARD Group, and will supply lifeboats complete with davit systems to a series of 15 new vessels.    Topaz Energy

NASSCO Wins Six Ship U.S. Navy Contract

General Dynamics NASSCO, a subsidiary of General Dynamics (NYSE: GD), won a contract by the U.S. Navy for the detailed design and construction of the next generation of fleet oilers,

Austal Stops Shares Trading

Review of U.S. Ops Reportedly Underway The West Australian reported that Austal halted its shares from trading, and reportedly is in the process of reviewing its U.

Ship Sales

Jinhui Sells Supramax

Jinhui Shipping and Transportation has agreed to sell another supramax dry bulk carrier, having just made a similar deal earlier this month.   The purchaser is a company incorporated in Hong Kong.

Navig8 Chemical Adds New Tanker from Kitanihon

Chemical shipping company Navig8 Chemical Tankers Inc. has taken delivery of its first stainless steel chemical tanker, the Navig8 Sirius, from Japanese shipbuilder Kitanihon Shipbuilding Co.

Hanjin to Return 38 Vessels Next Year

Hanjin Shipping is planning to return a total of 38 chartered vessels once their contracts end as part of its restructuring efforts, reports the Korea Herald. A

 
 
Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1215 sec (8 req/sec)