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    Contracts see Farstad bring vessels out of layup

    Contracts, Tenders and Rates // February 28, 2017

    Farstad Shipping has been awarded a number of contracts, including a number that have seen it bring vessels back into service that were laid up.

    The AHTS Far Sigma (2014, UT 731 CD, 24,371 bhp) has been awarded a one well contract by Lundin Norway to support a drilling programme with Island Innovator on the Norwegian Continental Shelf. Commencement will take place end of February 2017.

    Fairfield Betula Limited has awarded the PSV Far Symphony (2003, P 105, 4,929 dwt) a 12 month contract to support operations on the UK shelf. Commencement will take place during April 2017. Fairfield has the option to extend the contract by six months.

    The PSV Far Server (2010, Havyard 832 CD, 4,000 dwt) and the PSV Far Serenade (2009, UT 751 CD, 5,944 dwt) have both been awarded a 3.5 month contracts (including mobilization) by an international operator to support a field development project offshore Egypt. Commencement will take place end of February 2017. The contracts can be extended with another 30 days. Both vessels have been taken out of lay-up and are mobilized for the contract.

    The PSV Far Spica (2013, PSV 08 CD, 4,000 dwt) has received an extension of four months by the charterer where she has been employed since August 2015. The extension will commence in direct continuation of current contract as from 1 March 2017. The charterer has additional three months options thereafter.

    Petro Services, with end client Total, has awarded the PSV Far Starling (2013, PSV 08 CD, 4,000 dwt) a one month contract to support a 'ready for operation' campaign in Congo. Petro Services has the option to extend the contract to complete the campaign. Commencement will take place end of February 2017.

    "The contracts show Farstad Shipping’s ability to efficiently and safely return vessels from layup and put them into operation. I am satisfied to see that the Farstad organization, both on and offshore, has the ability to adapt to a challenging market and that our strategy to retain core competency in the company through the downturn is paying off," said Karl-Johan Bakken, CEO of Farstad Shipping.

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