Recent developments in Southeast Asian and Australian marketsNews // March 19, 2004
After the new year, the fleet in this region increased to 19 vessels after Far Saltire left West Africa for Australia to start operations for 4-6 months. Farstad was awarded two five-year contracts by Esso Australia for the two dynamically positioning PSVs, Far Scandia and Lady Kari-Ann to support Esso's production operations in Bass Strait.
The contract is worth around A$70 million and started in mid January upon the delivery of the Far Scandia to Esso's Barry Beach Marine Terminal.
Farstad also recently completed the previous five-year support contract to Esso in Bass Strait with the Lady Elizabeth and Lady Kari-Ann. The latter vessel will remain on as part of the two vessel service, whereas Lady Elizabeth was expected to rejoin the Australasian market in late January.