Cbo-Endeavour

JULY 14, 2017 — Norway's Solstad Farstad ASA has shed its first vessel since its formation last month by the merger of Deep Sea Supply, Farstad Shipping and Solstad Offshore. Wholly owned subsidiary Farstad Supply AS has sold the AHTS Far Shogun to an undisclosed buyer for an undisclosed price. Built at the Langsten shipyard in Norway in 2010, the vessel is a 23,664 BHP UT731 CD. It was handed over to the new owner yesterday. Solstad Farstad says the sale of the vessel will result in an immaterial accounting effect for third quarter 2017. http://www.marinelog.com/index.php?option=com_k2&view=item&id=26606:solstad-farstad-sells-first-vessel-since-merger&Itemid=257

Norwegian-based offshore support specialist Farstad says the UT731CD-design AHTS Far Shogun has been delivered from STX Norway Offshore AS, Langsten, to Farstad Supply, a wholly owned subsidiary of Farstad Shipping. The company says the vessel will trade the spot market in the North Sea. It adds that a long-term facility of NKr 400m (US$68m) has been drawn with Fortis Bank (Nederland) N.V, Oslo Branch to finance the vessel. Farstad Shipping's fleet currently consists of 57 vessels (24 PSV, 30 AHTS and three Subsea vessels) and one AHTS under construction at a Norwegian yard. Farstad says: “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.