Farstad Shipping declares options for two PSV’s

Farstad Shipping ASA has, through its wholly owned subsidiary in Norway, declared its options for building two platform supply vessels (PSV) at STX OSV. One of the vessels will be built at the STX shipyard in Vietnam and one at the STX yard in Tomrefjord, Norway (Langsten).

The newbuilds are part of Farstad Shipping’s continuous fleet renewal and represent an investment of approx. NOK 600 million (about $109 million). Delivery of the vessels is scheduled for the first half of 2013.

The vessels ordered are of the STX PSV 08 CD design, identical to three of four vessels ordered in November 2010. This design is a newly developed, medium sized, diesel electric PSV with a net deck area of about 800 sq.m.

May 19, 2011