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    Recent developments in Southeast Asian and Australian markets

    News // March 19, 2004
    US based shipbroker Marcon reports that Farstad Shipping's 18 vessels in the Far East and Australia were well employed during the fourth quarter.

    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.

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