Farstad Shipping wins long-term Mexican deal for newbuild CSV

Farstad Shipping has won a contract from Mexico’s Subtec C.V. for construction work, inspection maintenance and repair, and other subsea activities in the Gulf of Mexico.

The contract is for three years with further options for up to three years, utilising newbuild CSV Far Sentinal. The Vard 3 09 design vessel was delivered this year from Vard, and will commence work in Mexico in December.

Karl-Johan Bakken, CEO of Farstad Shipping, commented: “This is an important and significant contract for Farstad Shipping. It proves that even in a very challenging market, we are able to conclude long-term contracts for our vessels. This contract secures valuable competence and activity for our employees.”

Farstad has chartered out both subsea newbuilds delivered this year, although the company does plan to lay up two PSVs and three AHTSs in Norway to add to four vessels already laid up.

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.
Back to top button