Farstad Shipping ASA - Vessel delivery, sale and leaseback

Far Statesman (UT 731 CD) has today Tuesday 4 June been delivered from Vard Langsten to Farstad Supply AS, a wholly owned subsidiary of Farstad Shipping ASA.

With reference to the press release of 7 March 2013, Farstad Supply AS has sold the vessel to Ocean Yield AS and leased it back on a 12 year bareboat charter. The agreement includes options for Farstad Supply AS to buy back the vessel. The vessel will operate in the North Sea spot market.

Contacts:
CEO Karl-Johan Bakken - tel. [phone]
CFO Torstein L. Stavseng - tel. [phone]

Farstad Shipping's strategy is to be a leading quality provider of large, modern offshore service vessels to the international oil and gas industry. The company's fleet consists of 59 vessels (26 PSV, 30 AHTS and 3 SUBSEA). In addition we have five newbuilds under construction (2 PSV, 2 AHTS and 1 SUBSEA) for delivery between February 2014 and March 2015. The company's operations are managed from Ålesund, Aberdeen, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of approx. 2,080 employees. At the moment, 15 vessels are stationed in Brazil, 16 in North-West Europe, 26 in the Indian Pacific region and two vessels in East Africa.

www.farstad.com

 

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

---

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Farstad Shipping ASA via Thomson Reuters ONE

HUG#1707004