Farstad Shipping ASA : Farstad Shipping ASA - Vessel delivery and long-term financing

 Farstad Shipping ASA : Farstad Shipping ASA - Vessel delivery and long-term
                                  financing

Far Spica (STX PSV08 CD) has today Thursday 31 January been delivered from STX
OSV Langsten to Farstad Supply AS, a wholly owned subsidiary of Farstad
Shipping ASA.

The vessel will commence a term charter contract with Statoil to support their
drilling campaign on the coast of East Africa. Reference is made to our press
release of 11 January 2013.

A long-term facility has been drawn with Danish Ship Finance AS to finance the
vessel.

Contacts:
CEO Karl-Johan Bakken - tel. +47901 05 697
CFO Torstein Stavseng - tel. +47911 07 001

Farstad Shipping's fleet currently consists of 56 vessels (28 AHTS, 25 PSV and
3 SUBSEA) and 4 PSV and 4 AHTS under construction. The company's operations
are managed from Aalesund, Aberdeen, Melbourne, Perth, Singapore, Macaé and
Rio de Janeiro with a total of 2000 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.

www.farstad.com



This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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Source: Farstad Shipping ASA via Thomson Reuters ONE
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