Farstad's Platform Supply Vessels Reel in New Commitments

Farstad Shipping has achieved a 3-year contract (plus 3 x 1 month options) with Marathon Norway for the platform supply vessel Far Service. Start up of the contract is August in direct continuation of the existing employment.

Peterson SBS Den Helder BV has declared the first one year option on the platform supply vessel Far Splendour commencing in direct continuation to the current contract end of December.

Coogee in Australia has extended the charter agreement for the anchor handling tug supply vessels Lady Valisia and Lady Gerda for a period of 10 months from October 1, 2008 to December 1, 2008, respectively.

Total contract value is approximately NOK 293 million.