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On July 14, 2017, Norway-based Solstad Farstad ASA executed its first vessel sale following the recent merger of Deep Sea Supply, Farstad Shipping, and Solstad Offshore. The wholly owned subsidiary, Farstad Supply AS, finalized the transaction of the AHTS Far Shogun to an undisclosed buyer for an undisclosed amount. This robust vessel, built at the renowned Langsten shipyard in Norway in 2010, boasts a powerful 23,664 BHP and is classified as a UT731 CD. The ownership transition took place yesterday, marking a significant milestone for the newly formed company. According to Solstad Farstad, this sale is expected to have an immaterial impact on its financial results for the third quarter of 2017.

Farstad Shipping, a renowned offshore support company based in Norway, has successfully taken delivery of the UT731CD-design Anchor Handling Tug Supply (AHTS) vessel, Far Shogun, from STX Norway Offshore AS at Langsten. This new addition will actively operate in the dynamic spot market of the North Sea. To support the vessel's financing, Farstad Supply, a fully-owned subsidiary of Farstad Shipping, has secured a long-term facility amounting to NKr 400 million (approximately US$68 million) with Fortis Bank (Nederland) N.V., Oslo Branch. Currently, Farstad Shipping's diverse fleet comprises 57 vessels, including 24 Platform Supply Vessels (PSVs), 30 AHTS vessels, and three Subsea vessels, along with another AHTS vessel under construction at a Norwegian yard. A spokesperson from Farstad reiterated the company's commitment, stating: “Our strategy is to position ourselves as a premier international supplier of large, state-of-the-art offshore service vessels to the oil industry, while maintaining a robust long-term charter profile for our fleet.