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Farstad Shipping ASA : Farstad Shipping ASA - Charter Agreements

       Farstad Shipping ASA : Farstad Shipping ASA - Charter Agreements

Charter contract update:

Farstad Shipping ASA has been awarded a new four month contract with four
monthly options by Statoil for the PSV Far Solitaire (2012, UT 754 WP, 5,800
DWT). Commencement of this contract will be in direct continuation of the
existing contract.

Statoil has declared their one year option to extend the contracts for the PSV
Far Seeker (2008, UT 751 E, 4,905 DWT) and the PSV Far Searcher (2008, UT 751
E, 4,992 DWT).

Peterson SBS Den Helder B.V. has awarded the PSV Far Splendour (2003, P 106,
3,503 DWT) a one year contract with two yearly options.

GDF Suez E&P UK Ltd. has awarded the PSV Far Superior (1990, 705 L, 3,796 DWT)
and the PSV Far Server (2010, Havyard 862 CD, 4,000 DWT) a three month
contract. The contract includes a four week option for the PSV Far Server.

In Brazil, Petrobras has declared their two months option for the PSV Far
Supporter (1996, UT 750, 4,680 DWT).

Karoon Petroleo & Gas Ltda. in Brazil has extended the contract for the PSV
Far Swift (2003, UT 755 L, 3,084 DWT) with another 60 days.

Oil Search in Australia has awarded contracts for the AHTS Far Fosna (1993, UT
722, 14,400 BHP) and the AHTS Lady Sandra (1998, KMAR 404, 15,014 BHP). The
duration of the contracts is approx. three months with a further three month
option.

Total value of the contracts, excluding options, is approx. NOK 225 mill.

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

Farstad Shipping's fleet currently consists of 57 vessels (28 AHTS, 26 PSV and
3 SUBSEA) and 3 PSV, 4 AHTS and 1 SUBSEA under construction. The company's
operations are managed from Aalesund, Aberdeen, Melbourne, Perth, Singapore,
Macaé and Rio de Janeiro with a total of 2080 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
HUG#1686988
 
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