Vigeo buys anchor-handling tug supply vessel

Farstad Shipping ASA subsidiary P/R International Offshore Services ANS has reached an agreement to sell the anchor-handling tug supply (AHTS) vessel Lady Margaret.

Aug 23rd, 2007

Offshore staff

AALESUND, Norway -- Farstad Shipping ASA subsidiary P/R International Offshore Services ANS has reached an agreement to sell the anchor-handling tug supply (AHTS) vessel Lady Margaret. The buyer of the vessel is Vigeo Ltd., Farstad Shipping's joint venture partner in Nigeria.

The ME505 (BHP 8850) design vessel was built in Australia in 1993. Delivery to the new owner will take place at the end of August or beginning of September.

Vigeo also will take over Farstad Shipping's part in the joint venture as the company in charge of operations in Nigeria.

8/23/2007

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