Fairstar Heavy Transport N.V. issues Fleet Update for 2012 Q1
(Thomson Reuters ONE) -
Fairstar Heavy Transport N.V. (FAIR) has contracted revenues totalling USD 190
million for its fleet of four vessels, FJORD/FJELL/FORTE/FINESSE. These
contracts are for the Gorgon (3 vessels) CLOV (1 vessel) Northern Offshore (1
vessel) Hercules (1 vessel) and recently announced Golden Eagle (2 vessels)
projects.
Philip Adkins, CEO of Fairstar, highlighted the strategic importance of these
contracts, stating - "Fairstar has taken a fundamentally different approach to
the marine heavy transport industry in the past five years. We have invested
heavily in a new fleet of purpose built, open stern semi-submersible heavy
transport vessels. We have also listened carefully to our strategic clients,
namely the E&P companies investing billions of dollars in new oil and gas
projects and the EPC companies responsible for designing and constructing the
infrastructure necessary to extract and package this energy for supply to the
markets where it is in demand. The complexity of these projects is increasing
and the technical support required by our clients involves a broad scope of
skills including engineering, project management, environmental stewardship and
most importantly safety. We have invested in a Team of dedicated professionals
at Fairstar who can deliver this service package to our clients.
Our commitment to exceptional service has been validated by the contract awards
we have received in the last 18 months. In particular, FINESSE now has its first
voyage in place for Golden Eagle in 2013. FJORD has just arrived in Angola to
load the CLOV FPSO components for DSME. After discharge in Okpo, South Korea,
FJORD will be on contract for Gorgon. FORTE will soon follow in July. Fairstar
stakeholders will benefit from a stream of monthly payments and achieve a
consistent earnings profile that has never been a feature of our industry in the
past. FJELL is sailing with the Northern Offshore rig ENERGY EXERTER en route to
Rotterdam. After Rotterdam, FJELL will re-unite with the Hercules 185 and take
her back to West Africa in March.
Fairstar has built strong relationships with all of our clients and the repeat
business we have earned from Northern Offshore, ENSCO, Chevron, Hercules, KBR
and Saipem underscores their confidence in Fairstar and the competence of our
dedicated Team. The short term prospects of additional contract awards are high.
The Tender Process for high value, multi-voyage projects can take as long as 18
months. Fairstar has submitted qualified tenders that are awaiting contract
award, in over ten on-shore and off-shore projects. We believe the combination
of our modern fleet and highly skilled Team will continue to give us a
compelling competitive edge. We intend to maintain this competitive edge to win
additional high value, multi-voyage contracts and deliver a predictable earnings
stream to our stakeholders.
For further information please contact:
Philip Adkins, CEO (philip.adkins(at)fairstar.com)
Web:www.fairstar.com
Tel: +31 (0)10-403 5333
***
Profile Fairstar Heavy Transport
Fairstar Heavy Transport N.V. is a leading provider of marine heavy transport
solutions, specializing in high-value cargoes for the offshore and onshore
energy and construction industries. Fairstar owns and operates two of the most
modern semi-submersible heavy transport ships in the global fleet, FJORD and
FJELL. The 50,000DWT, open-stern semi-submersible vessels FORTE and FINESSE are
currently under construction with Guangzhou Shipbuilding International in China
and will be owned and operated by Fairstar when they are delivered in 2012.
Fairstar is based in Rotterdam and quoted on the Oslo Stock Exchange (ticker:
FAIR).
Press release (PDF):
http://hugin.info/143837/R/1580530/493507.pdf
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originality of the information contained therein.
Source: Fairstar Heavy Transport NV via Thomson Reuters ONE
[HUG#1580530]
Unternehmensinformation / Kurzprofil:
Datum: 26.01.2012 - 18:17 Uhr
Sprache: Deutsch
News-ID 108312
Anzahl Zeichen: 4832
contact information:
Town:
ROTTERDAM
Kategorie:
Business News
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