Fairstar Heavy Transport takes delivery of 50,000 DWT semi-submersible vessel FORTE
(Thomson Reuters ONE) -
Fairstar Heavy Transport N.V. (FAIR) has taken delivery of the FORTE. The
closing documentation has been completed to the satisfaction of Fairstar's
bankers, classification society and the Dutch Flag State. Fairstar has drawn
down on the USD 247 million facility led by ING Bank and effected all
outstanding payments due to Guangzhou Shipbuilding International (GSI) for the
FORTE. The ship was delivered to Fairstar on the scheduled delivery date, at the
contracted purchase price.
Willem Out, COO of Fairstar, attended to the closing in China and reported: "We
are extremely pleased with the quality and performance of FORTE. Over the last
two years the Fairstar Team has worked closely with their counterparts at GSI to
maintain the highest standards of quality and compliance to our contract. We are
grateful for the thousands of hours of hard work that went into FORTE by
everyone involved. The commitment to our company by everyone involved in this
project, not only GSI, but CSTC and CSSC has been of great value. We value the
relationship and look forward to building more ships together."
Ingmar den Blanken, Fairstar's Treasurer, added: "The ING facility provided
funding not only for the FORTE, but it has also facilitated the payments due to
GSI for the FINESSE, as well as re-financing our current facilities with HSH
Nordbank and ABN AMRO. ING did a marvellous job syndicating the credit and
managing the closing documentation in a very difficult economic environment. The
facility also provides for the issuance of the Performance Bonds required under
our Gorgon, Ichthys and Golden Eagle contracts. ING provided a comprehensive
solution to our financial needs at a critical time for Fairstar. We appreciate
their confidence in our Team."
Philip Adkins, CEO of Fairstar, summed up the achievement: "Promises made,
Promises kept, in other words, business as usual at Fairstar."
Photographs of the recent naming ceremony can be found on our website
www.fairstar.com under the section New Build.
For further information please contact:
Philip Adkins, CEO (philip.adkins(at)fairstar.com)
Ingmar den Blanken, Treasurer (ingmar.den.blanken(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 three of the most
modern semi-submersible heavy transport ships in the global fleet, FORTE, FJORD
and FJELL. The 50,000DWT, open-stern semi-submersible vessel FINESSE is
currently under construction with Guangzhou Shipbuilding International in China
and will be owned and operated by Fairstar when she is delivered in October of
2012. Fairstar is based in Rotterdam and quoted on the Oslo Stock Exchange
(ticker: FAIR).
Press Release (PDF):
http://hugin.info/143837/R/1616389/515506.pdf
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originality of the information contained therein.
Source: Fairstar Heavy Transport NV via Thomson Reuters ONE
[HUG#1616389]
Unternehmensinformation / Kurzprofil:
Datum: 31.05.2012 - 16:03 Uhr
Sprache: Deutsch
News-ID 151971
Anzahl Zeichen: 3865
contact information:
Town:
ROTTERDAM
Kategorie:
Business News
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