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R International Offshore Services Ans News

28 Nov 2001

IOS Announce Charter Contracts

P/R International Offshore Services ANS (IOS), which is a 50/50 joint venture between Farstad Shipping ASA and P&O Australia, has contracted two anchor handling support vessels at the Simek AS yard in Norway. Delivery of the vessels will take place in March and July 2003. The vessels are a new type of UT 712 of 12,240 bhp with DP and a double drum 370 tonne winch for employment in international markets. IOS has also entered into a two year time charter with Phillips in Australia for the platform supply vessel (PSV) Far Scotsman commencing April 2002. from Farstad Shipping ASA for a minimum of two years. The Lady Audrey has been fixed for two wells + 2x1 well options to Shell Namibia from early January 2002. Lady Audrey is presently working for Shell in the Philippines.

02 May 2002

Farstad Gets Contract for Platform Supply Vessel

P/R International Offshore Services ANS (IOS), a company owned 50 percent by Farstad Shipping ASA and 50 percent by P&O, Australia, has signed a contract with Brevik Construction AS for delivery of a platform supply vessel in September 2003. The vessel is of design UT 755L. Presently IOS operates 15 vessels and has 3 vessels on order for delivery in 2003.

15 May 2002

IOS To Purchase of Platform Supply Vessel

P/R International Offshore Services ANS (IOS), which is a 50/50 joint venture between Farstad Shipping ASA and P & O Australia has entered into an agreement to purchase a platform supply vessel, design UT 755L, from Consensus Foss KS (Det Nordenfjeldske Dampskipsselskap). The vessel is under construction at Aker Brattvaag. IOS will formally take over the vessel immediately after delivery from the yard in December 2002. After the delivery of the above vessel IOS will operate a fleet of 17 vessels and have three vessels on order for delivery in 2003.

22 Aug 2007

Farstad Announces Sale of AHTS

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.

27 Jul 2007

Farstad Announces Vessel Sale

P/R International Offshore Services ANS, a wholly owned company of Farstad Shipping ASA, has reached an agreement to sell the Lady Elizabeth to European Venture II AS. Delivery of the vessels to the new owner will take place the first week in August 2007. The vessel is a platform supply vessel (PSV) of design ME 202 built in 1983. The price for the vessel is $10.6m. This will give a booked profit of approx.