Farstad Supply News

Norwegian offshore vessel owner Solstad Offshore has this week sold two anchor handling tug and supply vessels, in line with its objective to reduce fleet size to a level of 80-90 vesselsThrough its subsidiary Solstad Rederi AS, the company sold the AHTS Normand Master and Normand Mariner.The delivery of the vessels to the new owner took place on Thursday, and Solstad said the sale of the vessels would result in an immaterial accounting effect.Earlier this month, Solstad Offshore sold three anchor handling vessels…

Offshore vessel owner Solstad Offshore said Thursday it had sold three anchor handling vessels to undisclosed buyers, and also secured work for two platform supply vessels in the UK North Sea.Haugesund, Norway-based company said Thursday it had sold the Nor Captain  - owned by its subsidiary Solstad Offshore Singapore - and Far Sword and Far Stream, owned by its subsidiary Farstad Supply."Delivery of the vessels to the new owner took place today, February 3rd, 2022. The sale of the vessels will result in an immaterial accounting effect…

Norwegian offshore vessel owner Solstad Offshore is continuing with divestments of non-core vessels and has now sold the Rem Provider platform supply vessel.The vessel, built in 2007, was sold by Solstad Offshore's subsidiary Solstad Rederi AS and the vessel was delivered to the new owner took on Friday. "The sale of the vessel will result in an immaterial accounting effect for Q4 2021," Solstad Offshore said, without sharing further details on the buyer or on the sale value. VesselsValue values the vessel at $3,25 million, with demolition value at around $1,13 million.

Norwegian offshore vessel owners DOF and Solstad Offshore on Tuesday each announced construction support vessel sale deals.DOF Subsea said it had agreed to sell the vessel “Geosund” to an international buyer. The estimated delivery of the vessel to the new owner is in Q1, 2022, the company said, without sharing details on the identity of the buyer. Geosund (Ex-Far Swan) was built in 2001 as a platform supply vessel and rebuilt to a construction support vessel in 2006.Separately…

Solstad Offshore's subsidiary Farstad Supply has sold its platform supply vessel Far Splendour.According to Solstad, the 74 meters-long vessel was delivered to the new owner on Monday, May 10, 2021."The sale of the vessel will result in an immaterial accounting effect for Q2-2021," Solstad Offshore said.The company did not say who the buyer was, nor for what price the vessel was sold. VesselsValue, as per May 9, valued the platform supplier at $1.78 million.The medium-sized platform supply vessel of the Ulstein P106 design was built by Ulstein Verft in 2003.

Norwegian offshore service and supply ship shipping company Solstad Offshore said that its wholly owned subsidiary Farstad Supply AS has sold the platform supply vessel (PSV) Far Swift.Delivery of the 2003-built vessel to the new owner took place October 31st, 2019, said a press note.The sale of the vessels will have a minor positive accounting effect for 4Q 2019, it said.Farstad Supply AS manufactures and supplies offshore vessels. The company offers anchor handling tug, platform supply, and sub-sea vessels for material transportation, as well as provides logistic services.

Norwegian offshore service and supply ship shipping company Solstad Offshore said that its subsidiary Farstad Supply has sold the platform supply vessel (PSV) Far Star.1999-built Brazilian-flagged was sold to an undisclosed buyer.The delivery of the vessel to the new owner took place on Tuesday, August 6, said Solstad Offshore.Solstad added that the sale would have an immaterial accounting effect for the third quarter of 2019.Solstad Offshore now has 60 platform supply vessels in its fleet.

Solstad Farstad ASA (SolstadFarstad) entered a contract for the PSV, Far Solitaire, with Aker BP for a period of three months firm with further three months option, commencement of contract is mid-January 2018. In addition, Petrobas - Petróleo Brasileiro S.A has extended the present contract for AHTS BOS Topazio with 180 days to February 2019. Meanwhile, Farstad Supply AS, a wholly owned subsidiary of SolstadFarstad, has sold the AHTS Far Grip (1993 built, 14.389 BHP). The vessel was delivered to the new owner on December 12.

Solstad Farstad, which claimed to be the world’s largest OSV firm, has sold a relatively new AHTS vessel Far Shogun, since its formation last month following the mega-merger of three leading OSV companies in Norway. The 2010-built, 23,664-bhp Far Shogun has been delivered to the unnamed new owner on Thursday, Solstad Farstad announced. "Wholly owned subsidiary Farstad Supply AS has sold the AHTS Far Shogun to an undisclosed buyer for an undisclosed price. The delivery of the anchor handling tug and supply vessel Far Shogun to the new owner took place on Thursday, July 13," said the company. Solstad Farstad says the sale of the vessel will result in an immaterial accounting effect for third quarter 2017.

Farstad Shipping ASA has, through its wholly owned subsidiary Farstad Supply AS, sold the AHTS Far Sea (1991, ME 303 II, 13,219 BHP). Delivery of the vessel to the new owner took place Thursday 3 March 2016. The sale of the vessel gave a book loss of NOK 32 million, whereof NOK 30 million is booked as impairment in the 4Q 2015 accounts. After the sale of Far Sea Farstad Shipping’s fleet currently consists of 57 vessels (29 AHTS, 22 PSV and 6 SUBSEA) and 1 SUBSEA vessel under construction. The company’s operations are managed from Aalesund, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of 2,100 employees engaged onshore and offshore. The company’s strategy is to be a leading quality provider of large, modern offshore service vessels to the oil industry.

Farstad Shipping ASA subsidiary, Farstad Supply AS, contracts with STX OSV AS for an Offshore Subsea Construction Vessel (OSCV). This new building is part of Farstad Shipping's expansion into the subsea market and represents an investment of approx NOK 825 mill. Delivery of the vessel is due to take place in the first quarter of 2015. The vessel is a STX OSV OSCV 07 design OSCV  and is designed for subsea and IMR operations (Inspection, Maintenance and Repair). The vessel has a total length of 143 meters, beam of 25 meters and a deck area of more than 1,800 m².

Farstad Supply AS has been awarded charter contracts for Far Strider and Far Superior for one year with two one-year options for each of the vessels. The contracts are for Team Marine in Aberdeen for whom the vessels have operated for five and two years respectively. The existing contracts end in December (Far Superior) and January (Far Strider). The new contracts will start in January 2004. Both vessels are platform supply vessels and Far Strider was built in 1999, and Far Superior in 1990. In addition Farstad Shipping ASA has also reached an agreement to extend the contract for Far Fosna for three years from October 2005 till October 2008.

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.

Farstad Shipping ASA has, through its wholly owned subsidiary Farstad Supply AS, signed a contract with Brevik Construction AS for delivery of a platform supply vessel in July 2003. The vessel is of design UT 755L.

Farstad Supply AS, a wholly owned company of Farstad Shipping ASA, has reached an agreement to sell the Far Crusader and the Far Centurion to Oceanlink Ltd. Delivery of the vessels to the new owner will take place during 1st Quarter of 2007. The two vessels are both anchor handling tug supply vessels (AHTS) of design ME 303 built in Korea in 1983. The combined sale price for the vessels is $28.5m.

Aker Yards has signed a contract with Farstad Supply AS, a company within Farstad Shipping ASA in Ålesund, Norway, to deliver one UT 751 CD platform supply vessel. The contract value is approx NOK 320 million. This is the 21st contract between the shipowner Farstad Shipping and Aker Yards. The hull for the vessel will be built in Braila, Romania and outfitted at Aker Yards, Brevik. Delivery of the vessel is scheduled for January 2009.

UT 751 E platform supply rendering Aker Yards has signed a contract with Farstad Supply AS, a company within Farstad Shipping ASA in Ålesund, Norway, to deliver one UT 751 E platform supply vessel and one UT 712 L anchor handling tug supply vessel. The total value of the contract is approx NOK 570 million. This is the 18th and 19th contract between the shipowner Farstad Shipping and Aker Yards. The hulls for the vessels will be built in Romania and outfitted at Aker Yards, Brevik. Delivery of the vessels are scheduled for December 2007 and March 2008.

Farstad Shipping ASA, through its subsidiary Farstad Supply AS, has signed a contract with Aker Yards to build a UT 751 E platform supply vessel. The hull for the PSV will be built in Romania and outfitting yard will be Aker Yards Brevik. Delivery of the vessel is scheduled for July 2007. The vessel will upon delivery enter into the long term contract that was recently awarded by Norsk Hyrdo

Aker Yards has signed a contract with Farstad Supply to deliver an UT 751 E platform supply vessel. The value of the contract is approx $45M. This is the 17th contract between the shipowner Farstad Shipping ASA and Aker Yards. The hull for the PSV will be built in Romania and outfitted at Aker Yards, Brevik. Delivery of the vessel is scheduled for July 2007.

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.

Farstad Shipping ASA, through its wholly owned subsidiary Farstad Supply AS, has reached an agreement with Ulstein Shipping AS to take delivery of an offshore supply vessel under construction at Ulstein Verft AS. The vessel is a platform supply vessel of design ULSTEIN P105 for delivery on December 12, 2003. The vessel is a Ulstein-design and will have dieselelectric propulsion system, a length of 86 meters and a beam of 19 meters. The recently approved net wage system for Norwegian seamen was decisive for Farstad Shipping making this investment. At present Farstad has a fleet of 44 vessels, 23 of these are operating outside the North Sea. The company's newbuilding program counts 9 vessel (wholly and partly owned). Six of these vessels are built in Norway.

• Diamond Offshore Drilling Limited, completed the previously announced acquisition of the third-generation semisubmersible drilling rig Omega. The rig, purchased for $65 million, has been renamed Ocean Patriot. Diamond Offshore has a fleet of 47 offshore drilling rigs currently consists of 32 semisubmersibles, 14 jack-ups and one drillship. • Diamond Offshore Drilling Inc. received a letter of intent from Murphy Sabah Oil Company Ltd., a wholly-owned subsidiary of Murphy Oil Corporation, to operate the semisubmersible Ocean Rover offshore Malaysia for approximately 120 days following completion of its upgrade. Ocean Rover is expected to commence operations in Malaysia following delivery from the shipyard.

Aker Yards has signed a contract worth $69 million to build an Anchor Handling Tug Supply Vessel (AHTS) for Farstad Supply AS, to be delivered in the summer 2007. Farstad Supply AS is wholly owned by Farstad Shipping ASA. The new vessel will be the most advanced within the Farstad-fleet. The 27,500-hp vessel will be one of the biggest and most advanced vessels within its segment.