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    P/R International Offshore Services sells Lady Margaret

    Vessel & ROV News // August 23, 2007

    P/R International Offshore Services ANS, a wholly owned subsidiary of Farstad Shipping, has reached an agreement to sell the AHTS Lady Margaret.

    The buyer of the vessel is Vigeo Ltd, Farstad Shipping's joint venture partner in Nigeria.

    The vessel is a ME505 with 8,850bhp built in Australia in 1993.

    Delivery to the new owner will take place late August/early September.
    Vigeo will also take over Farstad Shipping's role in the joint venture being the company in charge of the operations in Nigeria.

    Due to the prevailing safety situation in Nigeria Farstad Shipping has decided to withdraw from that market.

    The price for the vessel is US$14.5 million. 


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