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    Farstad confirms cancellation of contract for UT751Es

    News // February 4, 2005
    Following Norsk Hydro's decision to go out to tender again for the provision of a number of high spec supply vessels, and to cancel a LOI awarded to Farstad Shipping, Aker Yards has been notified by Farstad Shipping that the contract for the vessels ( apair of UT751Es) has been cancelled.

    The contract was dependent on approval of the charter party between Norsk Hydro and Farstad Shipping ASA. An agreed cancellation fee will be covered by Farstad Supply AS.

    Aker Yards is already pursuing alternatives for these production slots, which are considered to be attractive in today's market.

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