Looking for a specific product?

Make a search for products & suppliers, articles & news.

Farstad Shipping ASA - Sale and leaseback

Farstad Shipping ASA has, through its wholly owned subsidiary Farstad Supply AS, reached an agreement with Ocean Yield of a sale and leaseback of two AHTS.

The vessels, both UT 731 CD design, are under construction at Vard Langsten in Tomrefjord (previously STX OSV Langsten) for delivery ultimo March and May 2013 respectively.

The agreement with Ocean Yield implies an immediate sale of the vessels from Farstad Supply AS to Ocean Yield upon delivery of the vessels from the yard. The vessels will then be leased back to Farstad Supply AS on a 12 year bareboat charter. The agreement includes options for Farstad Supply AS to buy back the vessels. The parties have agreed to keep the commercial terms of the agreement confidential.

Contacts for further information:

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

Farstad Shipping's fleet currently consists of 57 vessels (28 AHTS, 26 PSV and 3 SUBSEA) and 3 PSV, 4 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.

www.farstad.com

Associated companies:


Related news

Latest news

From stamp to screen: DNV GL issues over 50,000 electronic certificates

Since the launch in mid-October 2017, DNV GL has issued approximately 50,000 certificates, 

THERMO-TRANSIT FURTHER STRENGTHENS THE COMPANYS GROWTH

THERMO-TRANSIT FURTHER STRENGTHENS THE COMPANYS GROWTH BY APPOINTING JESPER HANSEN AS CHAIRMAN AND JAKOB HOLM AS CEO.

New Zealand Navy turns to Vestdavit for hands-on experience

Since 2000, Vestdavit has supplied 14 davits for seven NZ Navy vessels.

DNV GL and AEP Ohio win Energy Award for helping new energy efficient technology in ultra-low temperature freezers reach the market

Stirling ultra-low temperature freezers now ENERGY STAR certified

New 4K Displays Enable Cutting-Edge Multi-Data Fishing Vessel Bridge Solution from Furuno Norway

Newbuild Danish trawler 'Gitte Henning' first to benefit from large-format, ultra high definition bridge display innovation.

New DNV GL class notations aim to improve stern tube bearing performance

In the “Shaft align” class notations and the revised main class requirements for single stern tube bearing installations,

DNV GL provides due diligence to institutional lenders for investment in 659 MW Walney offshore wind project

Through DNV GL’s technical assessment to the group of lenders,

Welcome to the new service centre in Rørvik!

OK Marine will sell and offer service of its recognized cleaning fish products.

DNV GL boosts investment in 3D printing with establishment of Global Additive Manufacturing Centre of Excellence in Singapore

Through the newly established centre, DNV GL is running the recently announced collaboration with Sembcorp Marine,