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Last €2.70 EUR
Change Today +0.129 / 5.01%
Volume 0.0
As of 1:36 PM 07/29/15 All times are local (Market data is delayed by at least 15 minutes).

farstad shipping (FRJ) Snapshot

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52 Week High
07/30/14 - €13.96
52 Week Low
07/27/15 - €2.49
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Current Stock Chart for FARSTAD SHIPPING (FRJ)

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farstad shipping (FRJ) Details

Farstad Shipping ASA supplies offshore service vessels to the international oil and gas industry worldwide. The company has a fleet of vessels, such as anchor handling tug supply vessels (AHTS), which provide anchor handling and towing services for offshore platforms, barges, and production modules/vessels; platform supply vessels (PSV) for transporting supplies and equipment to and from offshore installations; and subsea vessels for operations at depths, as well as for installation and maintenance of the seabed facilities. As of March 26, 2015, it operated a fleet of 62 vessels, including 31 AHTS, 26 PSV, and 5 SUBSEA. The company has operations in the markets of North-West Europe, Brazil, and Asia. Farstad Shipping ASA was founded in 1956 and is headquartered in Ålesund, Norway.

2,200 Employees
Last Reported Date: 05/12/15
Founded in 1956

farstad shipping (FRJ) Top Compensated Officers

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farstad shipping (FRJ) Key Developments

Farstad Shipping ASA Wins Charter Contracts

QUEIROZ GALVAO EXPLORACAO E PRODUCAO S.A. has awarded a 2 year contract to the AHTS Far Sagaris (2009, UT 731 CD, 23,664 BHP) to support their drilling program in Brazil. Commencement of the contract will take place between December 2015 and January 2016. Charterer has the option to extend the contract up to 2 additional years. The vessel is presently in layup in Norway and will have some additional equipment installed before she will be departing for Brazil. Saipem SA has awarded the CSV Far Samson (2009, UT 761 CD, 32,640 BHP /250 t Crane) a contract of 9 months duration to support their activity in Brazil. Commencement of the contract will take place during Third Quarter 2015. Furthermore, Saipem has awarded the Far Samson a 1 year contract from October 2016 with a further 2 x 1 year option. An international oil company has awarded a contract to the PSV Far Spica (2013, PSV 08 CD, 4,000 DWT) to support their activity on the UK shelf. Commencement will take place in August 2015, and duration of the contract will be 14 months with a further 6 x 1 month option. The vessel has been laid up in Norway since early May. PSV Far Solitaire (2012, UT 754 WP, 6,336 DWT) has been awarded a contract by an international oil company for operation on the Norwegian Continental Shelf. Commencement is expected to be in September/October 2015, and the firm period is until 15 December 2016. The charterer has the option to extend the contract with in total 2 additional years. Total value of the contracts, excluding options, is approximately NOK 600 million.

Farstad Shipping ASA Announces Unaudited Earnings Results for the First Quarter Ended March 31, 2015

Farstad Shipping ASA announced unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, total operating income was NOK 1,063.107 million against NOK 1,009.671 million a year ago. Operating profit before depreciation (EBITDA) was NOK 366.153 million against NOK 370.644 million a year ago. Operating profit (EBIT) was NOK 125.647 million against NOK 192.722 million a year ago. Pre-tax loss was NOK 296.138 million against pre-tax profit of NOK 77.234 million a year ago. Loss was NOK 304.223 million or NOK 7.80 per diluted share against profit of NOK 79.548 million or NOK 2.04 per diluted share a year ago. Cash flow from operating activity was NOK 263.182 million or NOK 5.41 per share against NOK 257.284 million or NOK 6.25 per share a year ago. Investment in fixed assets and contracts newbuilds was NOK 905.366 million against NOK 673.663 million a year ago.

Farstad Shipping ASA Announces Changes in Corporate Management

Farstad Shipping ASA made changes in Corporate Management. Finn Amund Norbye should commence the position as Chief Commercial Officer in Farstad Shipping in April. However, Norbye has decided to decline the offer. In February 2015 it was announced that former CEO in Deep Sea Supply, Finn Amund Norbye, had accepted an offer from Farstad Shipping. Norbye was supposed to start as Chief Commercial Officer in April.


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