Technip hires Farstad newbuild

Farstad Shipping ASA has signed a Letter of Intent with Technip regarding utilization of the subsea vessel Far tbn Sleipner (2015, Vard 3 07) which is under construction at Vard Langsten.

The agreement secures the subsea vessel a utilization of 11 months, divided into two fixed periods. Including mobilization and demobilization, Technip can use the vessel for up to 16 months.

Delivery of the vessel from the yard is expected to take place in March/April 2015, and preparations for the contract will then start immediately, the company said in the press release.

The contract is based on market terms. According to Farstad, the commercial terms of the agreement with Technip will be kept private and confidential between the parties.

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