Farstad Sells AHTS

Farstad Shipping ASA has, through its wholly owned subsidiary Farstad Supply AS, sold the AHTS Far Sea (1991, ME 303 II, 13,219 BHP).

Delivery of the vessel to the new owner took place Thursday 3 March 2016.

The sale of the vessel gave a book loss of NOK 32 million, whereof NOK 30 million is booked as impairment in the 4Q 2015 accounts.

After the sale of Far Sea Farstad Shipping’s fleet currently consists of 57 vessels (29 AHTS, 22 PSV and 6 SUBSEA) and 1 SUBSEA vessel under construction. The company’s operations are managed from Aalesund, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of 2,100 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.