Farstad Shipping ASA - Ship of the year 2012
Farstad Shipping,Â winner of the "Ship of the year 2012" award
Aalesund, Norway, 5 September. Farstad Shipping's groundbreaking new PSV Far
Solitaire was today awarded Â«Ship of the Year 2012Â» by Skipsrevyen.
- Being a value driven company, it is Farstad Shipping's goal to be a leading
provider of quality services with considerable focus on safety, technology and
environmental considerations. Far Solitaire delivers on all of these criteria,
and we are honoured and very pleased to receive this acknowledgement, says Karl-
Johan Bakken, CEO of Farstad Shipping.
Farstad Shipping was also awarded the Ship of the Year Award in 2009 for the
subsea vessel Far Samson.
Far Solitaire is a platform supply vessel (PSV) specially designed to meet the
increasing demand from the oil and gas industry for transport of noxious liquid
substances (NLS products) to and from the offshore installations. Handling NLS
products may entail hazard, and transportation is subject to strict regulations.
Conventional offshore supply vessels are limited to transport maximum 800 cubic
metres of NLS products at the time, which often may be considered insufficient
for the petroleum companies. Farstad Shipping's latest addition to its fleet is
in compliance with the requirements for chemical tankers (IBC Code 2 compliant)
in this respect, and can carry more than 1Â 600 cubic metres of NLS products at
The jury has in particular emphasized the following:
"Far Solitaire is the first PSV developed and built as an IBC Code 2 (chemical
tanker) compliant offshore supply vessel, which is the main reason why the jury
elected this vessel as Ship of the Year 2012. The vessel is capable of
undertaking all aspects of offshore oilfield services, including transportation
of unlimited quantities of noxious liquid substances. During the project
development it has been paid strong focus to the impact on the environment the
construction and operation of this vessel would cause through its lifespan.
Other features highlighted by the jury are her wave-piercing bow design, the
development of a new cargo rail crane concept for PSVs and the introduction of
the frequency converter for the swing up thruster as power supply for shore
The vessel is developed by Farstad Shipping in close cooperation with Rolls
Royce Marine Ship Technology Offshore and is built by STX OSV Langsten Yard in
Tomrefjord, Norway. DNV (Det Norske Veritas) has also given important
contribution in guidance and approvals. Therefore, Far Solitaire is a result of
the close cooperation between multiple representatives within the maritime
cluster in the western part of Norway.
- The Â«Ship of the YearÂ»-award is in many ways an award to the entire maritime
cluster that Farstad Shipping is a part of, says Bakken.
- We are building on the strong maritime traditions still existing along the
coast of Norway, and the local commitment to innovation has created the
foundation for the unique position Norwegian offshore companies enjoy globally.
Far Solitaire is designed and built including a number of innovations in
addition to the liquid cargo handling systems, which utilize submerged pumps and
segregated piping systems to avoid mixing of different products.
The vessel's hull shape has Rolls Royce's Â«Wave PiercingÂ» bow design, which
provide better seakeeping capabilities, increased comfort and reduced fuel
consumption. Other innovations include among others new dual draglink cargo rail
crane concept, engine and switchboard configuration to optimize fuel
consumption, in addition to a new generation electric shore connection which
will increase the utilization of renewable energy when the vessel is alongside
- The crew is paramount
Far Solitaire will be delivered to Farstad Shipping in beginning of October
2012. The timing of her delivery does not overly concern Karl-Johan Bakken in
spite of the current weak spot market.
- This is a renewal of our fleet and a part of our long term strategy. It is our
belief that these kinds of innovative, flexible and environmentally superior
vessels will be increasingly important to the market, he says.
The Farstad CEO is more concerned with securing the best crew possible.
- Regardless of technological development, the people on board are our most
important resource. Qualified and competent employees are becoming more and more
important as vessels become more complex and advanced. Our ability to attract
and retain highly qualified employees is the key to our success, Bakken says.
For further information, please contact:
CEO Karl-Johan Bakken - tel. +47Â 901 05Â 697, e-mail:karl-
CFO Torstein Stavseng -Â tel. +47Â 911 07Â 001,e-mail:
Farstad Shipping's fleet currently consists of 54 vessels (29 AHTS, 22 PSV and
3 SUBSEA) and 7 PSV and 4 AHTS under construction. The company's operations are
managed from Aalesund, Aberdeen, Melbourne, Perth, Singapore, MacaÃ© and Rio de
Janeiro with a total of 2000 employees engaged onshore and offshore. The
company's strategy is to be a leading quality provider of large, modern offshore
service vessels to the oil industry. The company maintains a long-term charter
profile for the fleet.
About the "Ship of the Year" award
* The Â«Ship of the YearÂ»-award was established by the magazine Skipsrevyen.
* The magazine's readers nominate candidates for the award.
* This year's jury consists of Asle StrÃ¸nen, the editor of Skipsrevyen, Rolf
SÃ¦ther, former managing director of Norwegian Shipowners Association, Birger
SkÃ¥r, managing director of Norwegian Shipbuilders Sales and Marketing
Organization, and Rikke Lind, former secretary of the Ministry of Trade and
* The Â«Ship of the YearÂ»-award has been distributed since 1997.
About Far Solitaire
* Built at STX OSV Langsten Yard and will be delivered to Farstad Shipping
beginning October 2012. The hull is built by STX OSV Tulcea in Romania.
* Main vessel parameters are length over all 91.60 metres, beam 22.00 metres,
cargo deck area 1020 square metres and deadweight 5700 metric tonnes.
* Designed according to requirements for chemical tankers (IBC Code 2
Compliant), defined by international Code for the Construction and Equipment
of Ships Carrying Dangerous Chemicals in Bulk.
* Holds capacity to transport more than 1600 cubic metres of NLS products.
* Dedicated deep well pumps in all cargo tanks for NLS products rather than
the conventional solution with common cargo pumps in pump room.
* As the first vessel, it was decided to implement the new Rolls Royce "Wave
Piercing" bow design, increasing comfort on board and reducing fuel
* New cargo rail crane concept, having a dual draglink crane on SB side cargo
rail, covering the full length of the cargo deck giving increased work area
and stable horizontal movement.
* Three main engines in combination with diesel electric propulsion, main
electric switchboard split in three separate units and three separate
thrusters forward have several advantages: Transit at economic speed with
one engine efficiently running at the time, utilising optimal fuel
consumption and efficient operation of selective catalytic converters.
* A new generation electric shore connection has been developed, where shore
power of any voltage and frequency can be used independently or continuous
in parallel with the diesel generators. The result is increased utilisation
of renewable energy when the vessel is alongside in port.
* Deck illumination is based on energy saving LED fixtures.
About Farstad Shipping ASA
Farstad Shipping ASA is a leading provider of quality services to the
international oil industry. The company has focused its operations on providing
large, modern offshore support vessels and has a fleet of 54 vessels and 11 new
buildings under construction. Farstad Shipping operates in Australia (app.
50Â %), Brazil (app. 25Â %) and the North Sea (app. 25Â %). Farstad Shipping has
been listed on the Oslo Stock Exchange since 1988.
The company's head quarter is located in Aalesund in the western part of Norway.
This is also the main hub for ownership and business development. Farstad
Shipping continuously develops and strengthens the organization's other focus
areas through operational offices in Aberdeen, Melbourne, Perth, Singapore,
MacaÃ© and Rio de Janeiro. Farstad Shipping connects its offices through common
global work processes. Farstad Shipping is a part of the maritime cluster in the
western part of Norway. The actors in the region have deliberately focused on
cooperation, exchange of ideas and openness.
Advanced technology requires human competence. The company has about 2000
employees taking part of activities offshore and onshore. Farstad Shipping's
main resource is its employees and their competence. The company has a long-term
strategy and a strong focus on health, safety, environment and quality to meet
future industry requirements as well as strengthen its competitiveness. Farstad
Shipping invests significantly in safety improvements, skill development of
employees offshore and onshore in line with the company's fundamental values.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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Source: Farstad Shipping ASA via Thomson Reuters ONE