Farstad Shipping Singapore News

Vung Tau Shipyard in Vietnam delivers Platform Support Vessel (PSV) to Farstad Shipping Singapore subsidiary. Far Sitella, a STX PSV08 CD offshore vessel, is bound for Australia where it will commence its long term commitment to Shell Australia related to their Prelude drilling campaign. A long-term facility has been drawn with Nordea Bank to finance the vessel. Farstad Shipping's fleet currently consists of 57 vessels (28 AHTS, 26 PSV and 3 SUBSEA) and 3 PSV and 4 AHTS under construction.

Farstad subsidiary, Farstad Shipping, Singapore, sells AHTS 'Lady Cynthia'. The buyers identity is not disclosed, but it is expected the vessel will be deployed in the Indian domestic market. Lady Cynthia was built in 1987 by Hart Fenton with a propulsion power output of 9,500 BHP. Sale of the vessel will give Farstad a booked profit of approx. NOK 3 mill. in the 1st quarter 2013. After the sale of Lady Cynthia Farstad Shipping's fleet consists of 55 vessels (28 AHTS, 24 PSV and 3 SUBSEA) and 5 PSV and 4 AHTS under construction.