Offshore Vessel Charters for Farstad

Press Release
Monday, January 14, 2013
Farstad OSV: Image credit Farstad Shipping

Farstad Shipping ASA has been awarded charter contracts with a value of about US$ 58-million.

The contracts awarded to Farstad are as follows:

Statoil has awarded contracts to PSV Far Spica (2013, PSV 08 CD, 4,000 DWT) and PSV Far Scotsman (2012, PSV 08 CD, 4,000 DWT) to support the Statoil drilling campaign on the coast of East Africa. Commencement is expected to take place in April 2013. The duration of the contracts will be approx. 9 months, with a further 9 month option. Both vessels will leave the North Sea during the month of March.

Technip UK has awarded PSV Far Star (1999, UT 745, 4,403 DWT) a 60 day contract with a 30 day option, to support the Technip activities in Brazil. Far Star has already left the North Sea.

Perenco Petroleo e Gas do Brasil has awarded a 12 month contract with a 6 month option to AHTS Far Sagaris (2009, UT 731 CD, 24,000 BHP) to support the Ocean Star drilling campaign in Brazil. Commencement of the contract is expected to take place during 1st quarter 2013.

Fugro RUE AS in Norway has awarded the IMS vessel Far Saga (2001, UT 745 L) a 6 month contract with options thereafter. Commencement is set to mid-February. The contract includes ROV support operations and other subsea related activities in the North Sea.

Petrobras has declared their 292 day option to extend the contract for the AHTS Far Sea (1991, ME 303 II, 13.200 BHP).

Total value of the contracts, excluding options, is approx. NOK 320 mill. after deduction of local taxes.

The above contracts give Farstad the opportunity to mobilise three PSV out of the North Sea which will have a positive impact on the market balance in the region. Farstad Shipping has recently also mobilised AHTS Far Sabre from the North Sea to Australia.
 

Maritime Today


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

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

Contracts

Great Lakes Inks M.E., N.C. Coastal Protection Project Deals

Great Lakes Announces $55 Million in Subcontract Work in the Middle East and Award of $38 Million for a Domestic Coastal Protection Project Great Lakes Dredge

Olympic Subsea Vessel Bags Contract

Olympic Shipping has secured a contract for Olympic Delta, an inspection, maintenance and repair (IMR) vessel, with an international client  to work on a renewable energy project.

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

Offshore

Shipping Industry Flying On The Dragon’s Back

As the many Greek players in the shipping industry know well, the legend of Icarus tells us the dangers of flying too high. Merchant vessel earnings eventually

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

Sembcorp Profit Halved as Clients Defer Projects

Revenue falls 30 pct; order book at S$9.7 billion. Singapore rig-builder Sembcorp Marine's quarterly profit halved as customers deferred projects, and it faces

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage 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: 0.1331 sec (8 req/sec)