Farstad charters newbuild subsea vessel to Technip

Oslo: Farstad Shipping ASA has said that it has signed a letter of intent with Technip, who will charter subsea vessel Far Sleipner which is currently under construction at Vard’s Langsten shipyard.

Farstad is expecting delivery of the vessel in March/April, and will then make preparations for the contract which is for utilisation of the vessel for 11 months, divided into two fixed periods. Including mobilization and demobilization, Technip can use the vessel for up to 16 months. The contract value was not disclosed by Farstad, who stated it was “based on market terms”.

Farstad has a fleet of 62 offshore vessels, which includes four subsea vessels with an additional three currently under construction with Vard.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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