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    Farstad writes down value of its vessels

    Company News // February 17, 2016

    Farstad Shipping in Norway says that, based on brokers’ market valuation of its fleet, and prevailing market conditions, as well as the uncertainty related to the vessels' future earnings, the board of the company has decided to undertake impairments totaling NKr 1,094 million for vessels and other fixed assets in its financial statements for the fourth quarter of 2015. The total impairments of fixed assets for the fiscal year 2015 is NKr 1,279 million.

    The company will publish quarterly accounts for the fourth quarter 2015 and the preliminary annual accounts for 2015 on 29 February. 

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