Farstad fixes four in Brazil and the North Sea

Athens: Oslo-listed Farstad Shipping has fixed four of its offshore vessels to international charterers operating in Brazil and the North Sea, which will mobilise two vessels that are currently laid up in Norway.

No rates for the individual charters have been disclosed, but Farstad says the contracts have a combined value of approximately NOK 600m ($73m), excluding optional periods.

The anchor handling tug supply vessel (AHTS) Far Sagaris (built 2009) has been chartered for two years by Brazil’s Queiroz Galvão Exploração E Produção to support its drilling activity in the country. The contract includes a two-year extension option.

The AHTS is currently laid up in Norway, Frastard says, and will have additional equipment installed before departing for Brazil. The contract period will commence between December and January 2016.

Farstad’s construction support vessel (CSV) Far Samson (built 2009) has been chartered to Italy-headquartered Saipem for nine months. The vessel will also be deployed in Brazil, commencing in the third quarter this year.

The Far Samson has won a further one-year charter from Saipem, which will start in October 2016 and includes extension options for two additional one-year periods.

An unnamed oil company has chartered Farstad’s platform support vessel (PSV) Far Spica (2013), which will be deployed on the UK shelf from August for 14 months. The PSV has been laid up in Norway since early May.

The charterer has options to extend the contract by six additional one-month periods.

Finally, Farstad’s PSV Far Solitaire (built 2012) has been chartered by another undisclosed company to be deployed on the Norwegian continental shelf. The vessel will start work in September/October until the firm period expires on December 15, 2016. The contract includes a two-year extension option.


Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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