Farstad cancels sale of vesselVessel & ROV News // November 1, 2011
Farstad Shipping hasa nnounced that its wholly owned subsidiary P/R International Offshore Services ANS, which had reached an agreement to sell the PSV Lady Christine (1985, ME 202, 2,368 dwt), will not now sell the vessel.
"Delivery of the vessel to the new owner was expected to take place in October 2011. The buyer has not fulfilled the contractual obligations within the agreed time limit. As a consequence we have decided to cancel the agreement, and the vessel will continue to work the spot market out of Singapore," said Farstad in a statement.