Farstad Shipping ASA

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Farstad Shipping ASA is a public Norwegian company operating supply-vessels. The company's head office is in Aalesund and the shares are listed on the Oslo Stock Exchange. The company's fleet of vessels consist of AHTS (anchor handling tug supply vessel) and PSV (platform supply vessel) and is supporting offshore rig activities and other offshore related activities in different regions. Presently the company's vessels are working in the North Sea, in Brazilian water, in Australian water and offshore Vietnam, Malaysia and the Phillipines. The fleet consists of 47 vessels. In addition 6 vessels are under construction for delivery from 2003 to 2005. Of the Farstad fleet, 31 vessels, 24 excisting vessels and 2 newbuild are owned by Farstad Supply AS, 5 vessels are owned by Farstad Shipping Ltd. The remaining 18 vessels and 1 newbuild are within P/R International Offshore Services ANS (IOS), a company owned by Farstad Supply AS and Farstad International AS (The IOS Fleet). The last 3 newbuild are within Brazil Offshore Services (BOS), a joint venture with Petroserv S.A. in Brazil. In addition to Aalesund the company's activities are managed from Aberdeen in Scotland, Melbourne in Australia and Macae in Brazil with altogether 92 employees. The total number of sailors is approx. 1250.