Farstad Shipping has been awarded the following charter contracts:

9 June 2011

AHTS Far Strait (2006, UT 712L, 14.688 BHP), AHTS Lady Caroline (2003, UT 712, 12.240 BHP), PSV Far Spirit (2007, VS 470 MK II, 3.624 DWT) and PSV Lady Grace (2001, UT 755, 2.936 DWT) have all been extended for 365 days while AHTS Far Stream (2006, UT 712L, 14.688 BHP) and PSV Far Swan (2006, VS 470 MK II, 3.628 DWT) have been extended for 180 days. All vessels are on charter with Woodside in Australia in support of their drilling and/or production operations.

In addition Esso Australia has exercised another 3 month option for PSV Lady Kari-Ann (1982, ME 202, 2.972 DWT). The vessel will remain supporting Esso's offshore production operations in Bass Strait.

Total value of the contracts is approximately NOK 380 million.

Farstad Shipping's fleet currently consists of 57 vessels (32 AHTS, 23 PSV and 2 SUBSEA) and 6 PSV under construction. The company's operations are run from Aalesund, Aberdeen, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro by a total of 1900 employees onshore and offshore. The company's strategy is to be a major international supplier of large, modern offshore service vessels to the oil industry. We also remain committed to solid long-term charter profile for the fleet.

Farstad Shipping