Farstad awarded $73 million in contracts

Brazil

OSLO, July 8, 2015 – Shipping company Farstad Shipping announced Tuesday that it has been awarded four chartering contracts worth a total of $73.4 million.

The first contract involves Norwegian company supplying an anchor handling tug supply vessel to Brazilian conglomerate Queiroz Galvao for two years with the option of extending the contract for another two years. The contract will run between December 2015 and January 2016. The company was also awarded a 9-month construction support vessel contract by Italian oil and gas contractor Saipem starting in the third quarter of 2015. Both vessels will support activities in off the coast of Brazil.

Farstad also clinched two platform supply vessels. The first contract was awarded by an unnamed international oil company for activity on the UK Shelf beginning in August 2015 for 14 months. The Norwegian charterer will also provide a platform supply vessel to an international oil company to support activities in the Norwegian Continental Shelf. This contract will begin in either September or October 2015 until December 2016.

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