Farstad sells another PSV at a loss

JANUARY 22, 2016 — Norway's Farstad Shipping ASA is booking another loss on the sale of a platform supply vessel.

On January 15, it reported the sale of the PSV Far Scandia, booking a loss of around NOK 8 million (about $900,000) on the deal (see earlier story). Today the company reported the sale of the 2,936 dwt UT 755 Lady Grace, built by Norway's Aker Brevik Shipyard in 2001.

The sale was conducted on behalf of wholly owned subsidiary P/R International Offshore Services ANS and delivery of the vessel took place yesterday.

Farstad says it will book a loss of NOK 49 million (about $5.61 million) on the sale in fourth quarter 2015 and that "the sale of the vessel is a part of the company's strategy for the further fleet development, and the market prospect for this kind of tonnage."

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