Farstad Secures Charter Contracts

Farstad Shipping ASA has, through its wholly owned subsidiary Farstad Supply AS, been awarded charter contracts for the two anchorhandling vessels Far Crusader and Far Centurion by the Brazilian oil company Petrobras. These vessels are of the design ME 303 (13040 BHP) and built in 1983. The new charter period, of two years duration, begins after the expiry of the present contract to Petrobras March 2002. The total contract value is approximately $17 million.