Farstad lets another Lady go

Out the door: the AHTS Lady Cynthia has left Farstad's fleet

Farstad Shipping

Eoin O'Cinneide

 02 January 2013 12:07 GMT

Farstad Shipping has shed another elderly offshore vessel from its fleet but has remained mum on much of the detail.

The anchor-handling tug supply (AHTS) unit Lady Cynthia was delivered to its new owner on Wednesday, the Norwegian ship owner said.

Although not identifying the buyer, Farstad hinted that it may be Indian, saying: “It is expected the vessel will be deployed in the Indian domestic market.”

This means that Farstad is not selling the unit to an owner who will compete in the same waters.

Farstad also did not reveal a purchase price but said a net profit of around $500,000 would be booked in the first quarter.

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