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    Farstad awards contracts for newbuilds

    Vessel & ROV News // January 7, 2005
    Farstad Shipping in Norway has placed orders for the vessels it requires following its Letter of Intent awarded by Norsk Hydro regarding long-term chartering of three (PSVs). Two of the contracts require newbuildings.

    Farstad Shipping has, through its subsidiary Farstad Supply AS, reached an agreement with Aker Brattvåg AS for the construction of two UT 715E PSVs for delivery in May and October 2006.

    The contracts with the yard are conditional on the contracts with Norsk Hydro.

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