FAR - Long-term Financing

Farstad Shipping ASA "Far Sabre" (AHTS UT 712 L) has on Saturday 12th July been delivered from Aker Yards ASA to Farstad Supply AS, a wholly owned subsidiary of Farstad Shipping ASA. The vessel will trade the spot market in the North Sea.

A long-term facility of NOK 231 million has been drawn with Eksportfinans ASA to finance the vessel. The loan is guaranteed by Sparebanken Møre and Swedbank AB.



Contacts: CFO Torstein Stavseng - tel. 91 10 70 01



Farstad Shipping's fleet currently consists of 51 vessels (23 PSV and 28 AHTS) and 7 vessels (5 AHTS, 1 PSV, 1 CSV) under construction at Norwegian yards. The company's operations are run from Ålesund, Aberdeen, Melbourne, Singapore and Macaé by a total of 1550 employees onshore and offshore. The company's strategy is to be a major international supplier of large, modern offshore service vessels to the oil industry. We also remain committed to solid long-term charter profile for the fleet.

Farstad Shipping ASA

http://www.farstad.no/

ISIN: NO0003215303

Stock Identifier: XOSL.FAR