Farstad takes $7.3 million loss on sale of PSV

Lady Grethe Lady Grethe

MARCH 1, 2016 — For the third time this year, Norway's Farstad Shipping ASA reports the sale of a platform supply vessel at a loss.

This time around the vessel is the 2002-built Lady Grete (2002, UT 755 L, 3,264 dwt).

The sale was conducted on behalf of wholly owned subsidiary Farstad Shipping Pte. Ltd. in Singapore and delivery of the vessel to the new owner took place yesterday.

The sale of the vessel gave a book loss of NOK 63 million ($7.3 million), NOK 60 million of which is booked as an impairment in the 4Q 2015 accounts.

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