Last 38.00 NOK
Change Today -1.30 / -3.31%
Volume 339.0K
FAR On Other Exchanges
Symbol
Exchange
Oslo
Stuttgart
As of 10:25 AM 12/17/14 All times are local (Market data is delayed by at least 15 minutes).

farstad shipping (FAR) Snapshot

Open
41.00 NOK
Previous Close
39.30 NOK
Day High
42.00 NOK
Day Low
37.00 NOK
52 Week High
02/12/14 - 137.00 NOK
52 Week Low
12/17/14 - 37.00 NOK
Market Cap
1.5B
Average Volume 10 Days
99.6K
EPS TTM
6.78 NOK
Shares Outstanding
39.0M
EX-Date
05/15/14
P/E TM
5.6x
Dividend
3.00 NOK
Dividend Yield
7.89%
Current Stock Chart for FARSTAD SHIPPING (FAR)

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farstad shipping (FAR) Details

Farstad Shipping ASA supplies offshore service vessels to the international oil and gas industry worldwide. The company has a fleet of vessels, such as anchor handling tug supply vessels (AHTS), which provide anchor handling and towing services for offshore platforms, barges, and production modules/vessels; platform supply vessels (PSV) for transporting supplies and equipment to and from offshore installations; and subsea construction and support vessels (SUBSEA) for operations at depths, as well as for installation and maintenance of the seabed facilities. As of December 31, 2013, it operated a fleet of 59 vessels, including 30 AHTS, 26 PSV, and 3 SUBSEA. The company has operations in the markets of North-West Europe, Brazil, and Indian Pacific. Farstad Shipping ASA was founded in 1956 and is headquartered in Ålesund, Norway.

2,250 Employees
Last Reported Date: 11/13/14
Founded in 1956

farstad shipping (FAR) Top Compensated Officers

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farstad shipping (FAR) Key Developments

Farstad Shipping ASA Wins Charter Contract by Technip Norge AS

Farstad Shipping ASA has been awarded a 5 year framework agreement by Technip Norge AS for delivery of ROV support operations, light construction work, IMR and other subsea related activities. The agreement gives Technip the right to utilize the vessel up to 320 days per year, and to extend the contract with a further up to 5 year period. Commencement of the framework agreement will be the first quarter of 2017. To fulfill the contractual obligations Farstad Shipping ASA will enter into an agreement to build one subsea/IMR vessel. The vessel has been developed and designed in close cooperation with Technip to support IMR activities with crane capacities up to 150 tons.

Farstad Shipping ASA Wins Charter Contracts in Australia

Farstad Shipping ASA has been awarded the charter contracts in Australia: Inpex has awarded contracts to the AHTS Far Sabre (2008, UT 712 L, 14.688 BHP) and the AHTS Far Sound (2007, UT 712 L, 14.688 BHP). Commencement is expected to take place in early January 2015. The duration of the contracts will be approximately 140 days, with further up to 18 months options; The AHTS Far Strait (2006, UT 712 L, 14.688 BHP) and the AHTS Far Scimitar (2008, UT 712 L, 14.688 BHP) have been awarded contracts by Murphy Oil for a fixed period of 3 wells (approximately 60 days). Expected commencement will be middle January 2015; In addition the AHTS Far Strait (2006, UT 712 L, 14.688 BHP), the AHTS Far Scimitar (2008, UT 712 L, 14.688 BHP) and the AHTS Lady Caroline (2003, UT 712, 12.240 BHP) have been awarded a contract by BHP Billiton with expected commencement middle March 2015. The contract is for a firm duration of 330 days with further up to 300 days options. The contracts for Far Strait and Far Scimitar will be in direct continuation of existing contracts. Total value of the contracts, excluding options, is approximately NOK 350 million.

Farstad Shipping ASA Reports Group Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Farstad Shipping ASA reported group earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total operating income of NOK 1,211.910 million compared to NOK 1,073.5 million a year ago. EBITDA was NOK 496.222 million compared to NOK 455.4 million a year ago. EBIT was NOK 311.232 million compared to NOK 283.233 million a year ago. Pre-tax profit NOK 96.951 million compared to NOK 132.91 million a year ago. Profit was NOK 91.2 million or NOK 2.34 per diluted share compared to NOK 127.2 million or NOK 3.26 per diluted share a year ago. Cash flow from operating activity was NOK 417.3 million compared to NOK 375.85 million a year ago. Cash flow per share was NOK 9.21 compared to NOK 7.83 a year ago. Investment in fixed assets and contracts newbuilds were of NOK 609.11 million compared to NOK 147.3 million a year ago. For nine months, the company reported total operating income of NOK 3,272.23 million compared to NOK 2,984.9 million a year ago. EBITDA was NOK 1,234.6 million compared to NOK 1,143.993 million a year ago. EBIT was NOK 682.54 million compared to NOK 661.9 million a year ago. Pre-tax profit NOK 225.6 million compared to NOK 233.6 million a year ago. Profit was NOK 217.410 million or NOK 5.57 per diluted share compared to NOK 213.414 million or NOK 5.47 per diluted share a year ago. Cash flow from operating activity was NOK 902.9 million compared to NOK 953.9 million a year ago. Cash flow per share was NOK 21.43 compared to NOK 20.40 a year ago. Investment in fixed assets and contracts newbuilds were of NOK 1,935.44 million compared to NOK 2,072.311 million a year ago. Net interest bearing debt and leasing obligations was NOK 9,352.342 million against NOK 7,934.8 million a year ago.

 

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FAR:NO 38.00 NOK -1.30

FAR Competitors

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Company Last Change
Gulfmark Offshore Inc $23.01 USD +1.50
Hornbeck Offshore Services Inc $22.18 USD +2.12
Rederi AB Transatlantic kr4.52 SEK +0.12
Solstad Offshore ASA 65.50 NOK +0.50
Ultrapetrol Bahamas Ltd $1.95 USD +0.08
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Industry Analysis

FAR

Industry Average

Valuation FAR Industry Range
Price/Earnings 5.0x
Price/Sales 0.3x
Price/Book 0.2x
Price/Cash Flow 1.3x
TEV/Sales NM Not Meaningful
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