FAIRSTAR HEAVY TRANSPORT N.V. achieves 100% fleet utilization for FJORD and FJELL in Q2
(Thomson Reuters ONE) -
Fairstar Heavy Transport N.V. (FAIR) reported fleet utilization of 100% for
FJORD and FJELL in its Q2 financial accounts released to the market today. The
company reported operating profits for the quarter of USD 1.4 million on time
charter revenues of USD 5.5million. The FJELL has successfully transported a
flotilla of 16 tug boats from Singapore to Maracaibo, Venezuela. The FJORD, now
preparing to depart Singapore with an additional 26 tugs on deck, carried the
ENSCO 105 jack-up rig from Malta to Singapore.
Willem Out, Fairstar's Chief Operating Officer, commented "FJORD and FJELL
crossed wakes around the Cape of Good Hope in the middle of May. Throughout the
second quarter our team has been involved in three complex submerging and
loading operations. I am relieved to report that our intense focus on safety and
safe practice resulted in an incident free quarter for our crews, ships and
cargoes."
Chief Executive Officer Philip Adkins stated "In spite of achieving full
utilization for our fleet, our profitability for the quarter was marginal at
best. The current price environment in the spot market is intensely competitive.
We are encouraged by the increase in tender activity for "Red Box" multi voyage,
complex, high value energy infrastructure projects. Fairstar was notified of
making the short list for two of these projects and we expect to learn about the
final contract awards in the third quarter of this year.
Meanwhile, we will continue to prepare our company to meet our commitments to
the soon approaching Gorgon Project. The FORTE is on schedule for delivery to
Fairstar in May 2012 and all our crews are undergoing intense quarantine
management and safety training in anticipation for our first voyage next
year."
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).
Fairstar Q2 2011:
http://hugin.info/143837/R/1530894/465853.pdf
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Source: Fairstar Heavy Transport NV via Thomson Reuters ONE
[HUG#1530894]
Unternehmensinformation / Kurzprofil:
Datum: 13.07.2011 - 20:02 Uhr
Sprache: Deutsch
News-ID 56380
Anzahl Zeichen: 3615
contact information:
Town:
ROTTERDAM
Kategorie:
Business News
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