Farstad Awarded Charter Contract

Friday, February 14, 2003
Farstad Shipping ASA, through its wholly owned subsidiary Farstad Supply AS, had been awarded a five year charter contract by Peterson Supplylink B.V. Peterson is a provider for 7 Dutch operators. The contract, starting between January 1 and March 31, 2004, demanded building of a new platform supply vessel (PSV). It is now decided that the vessel will be built at Ulstein Verft AS for delivery on the 22nd of December 2003. The vessel is a newly developed Ulstein-design, P 106. The vessel, will have dieselelectric propulsion system and will have a length of 74 meters and a beam of 16 meters.

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