Heerema Marine Contractors award multiple voyage contract to FAIRSTAR

17 July 2008

Heerema Marine Contractors (HMC) and Fairstar Heavy Transport (FAIR) have finalised contracts for the movement of a jacket, topside, flare boom and bridge components from South East Asia that are scheduled for installation in the Danish North Sea. The first voyage will be made by the Fjell first quarter 2010. The second voyage will be made by the Fjord and is currently scheduled for the second quarter of 2010. The total contract revenue to be received by Fairstar is 177 days at US$ 80,000.- per day.

Mario Kerssens, Director of Sales and Marketing for Fairstar, stated “We are pleased to have been selected by Heerema Marine Contractors for this project. Fjord and Fjell are ideally suited to transport these cargoes and these contracts as such are in line with our strategy of working closely with field developers requiring reliable delivery to support their time critical construction schedules”.

Profile Fairstar Heavy Transport:
Fairstar Heavy Transport NV is a provider of long distance ocean transportation services for the offshore and onshore industries. Fairstar operates two of the world’s largest and most modern self-propelled semi-submersible heavy transport vessels, Fjord and Fjell. The Fjord entered service in March 2008. The Fjell is currently being converted to a self-propelled vessel at Malta Shipyards Ltd in Malta and is expected to be ready for service at the end of 2008. Fairstar is based in Rotterdam and quoted on the Oslo Stock Exchange (ticker: FAIR).

Fairstar