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2016-01-22

Farstad Shipping ASA: Farstad Shipping ASA - Sale of vessel

Farstad Shipping ASA has sold the PSV Lady Grace (2001, UT 755, 2,936
DWT).

The sale of the vessel has been conducted on behalf of the wholly
owned subsidiary P/R International Offshore Services ANS.

Delivery of the vessel to the new owner took place Thursday 21 January
2016.

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. Sale of the vessel will give a book loss of approx. NOK 49
mill. in the 4th quarter 2015.

Contacts:

CEO Karl-Johan Bakken - tel. +47 901 05 697

CFO Torstein L. Stavseng - tel. +47 911 07 001

After the sale of Lady Grace Farstad Shipping's fleet consists of 59
vessels (30 AHTS, 23 PSV and 6 SUBSEA) and 1 SUBSEA vessel under
construction. The company's operations are managed from Aalesund,
Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of
2,100 employees engaged onshore and offshore. The company's strategy
is to be a leading quality provider of large, modern offshore service
vessels to the oil industry.

www.farstad.com

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http://news.cision.com/farstad-shipping-asa/r/farstad-shipping-asa---sal...

Författare WKR

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