Farstad newbuild delivered, being prepared for Technip West Africa contract

Oslo: Farstad Shipping has taken delivery today of newbuild subsea/construction vessel Far Sleipner from Vard’s Langsten yard.

The Vard 3 07 design vessel is heading off imminently on a charter contract to Technip for a period of around 11 months. Including mobilization and demobilization, Technip will have the vessel for up to 16 months.

Torstein L. Stavseng, Farstad’s cfo revealed to Splash that the Technip contract is in West Africa, and is being prepared for deployment within the next couple of weeks.

The contract value was not disclosed by Farstad when it was announced last month, the release stating only that it was “based on market terms”.

Financing of the vessel has been arranged with Eksportkreditt Norge AS, DNB, Swedbank and GIEK.

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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