Farstad Shipping to Sell Lady Christine PSV

Farstad Shipping ASA has, through its wholly owned subsidiary P/R International Offshore Services ANS, reached an agreement to sell the PSV vessel ‘Lady Christine’ (1985, ME 202, 2,368 DWT).

Delivery of the vessel to the new owner is expected to take place within the end of December 2011.

Sale of the vessel will give a booked profit of approx. NOK 12.8 million in the 4th quarter 2011.

After the sale of Lady Christine Farstad Shipping’s fleet consists of 56 vessels (32 AHTS, 21 PSV and 3 SUBSEA) and 6 PSV and 2 AHTS under construction. The company’s operations are managed from Aalesund, Aberdeen, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of 1970 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. The company maintains a long-term charter profile for the fleet.

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Offshore Nieuws Staff , December 13, 2011; Image: farstad