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Farstad Shipping ASA - Charter Agreement

PSV Far Strider (1999, VS 483, DWT 4,709) has been awarded a four year contract with a four year option in Brazil by Petrobras. Far Strider is currently operating in the North Sea and is expected to leave for Brazil during June 2013.

The value of the contract, excluding options, is approx. NOK 225 mill.

CEO Karl-Johan Bakken - tel. +47 901 05 697
CFO Torstein Stavseng -   tel. +47 911 07 001

Farstad Shipping's fleet currently consists of 58 vessels (29 AHTS, 26 PSV and 3 SUBSEA) and 3 PSV, 3 AHTS and 1 SUBSEA under construction. The company's operations are managed from Aalesund, Aberdeen, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of 2080 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. The company maintains a long-term charter profile for the fleet.


This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


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