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Farstad Shipping ASA (OSL:FAR) FAR - Long-term Financing

Farstad Shipping ASA (OSL:FAR) "Far Scimitar" (AHTS UT712L) has today Friday 21st November been delivered from STX Norway Offshore AS, Brevik, to Farstad Supply AS, a wholly owned subsidiary of Farstad Shipping ASA. The vessel will trade the spot market in the North Sea.

A long-term facility of NOK 260 million has been drawn with Eksportfinans ASA to finance the vessel. The loan is guaranteed by Nordea Bank Norge ASA.

Contacts: CEO Karl-Johan Bakken - tel. 90 10 56 97 CFO Torstein Stavseng - tel. 91 10 70 01

Farstad Shipping's fleet currently consists of 51 vessels (23 PSV and 28 AHTS) and 6 vessels (4 AHTS, 1 PSV, 1 CSV) under construction at Norwegian yards. The company's operations are run from Ålesund, Aberdeen, Melbourne, Singapore and Macaé by a total of 1550 employees onshore and offshore. The company's strategy is to be a major international supplier of large, modern offshore service vessels to the oil industry. We also remain committed to solid long-term charter profile for the fleet.

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Farstad Shipping ASA

http://www.farstad.no/

ISIN: NO0003215303

Stock Identifier: XOSL.FAR

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Farstad Shipping ASA

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