Last 107.50 NOK
Change Today +3.00 / 2.87%
Volume 10.3K
FAR On Other Exchanges
Symbol
Exchange
Stuttgart
As of 10:25 AM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

farstad shipping (FAR) Snapshot

Open
105.50 NOK
Previous Close
104.50 NOK
Day High
107.50 NOK
Day Low
103.00 NOK
52 Week High
11/12/13 - 141.00 NOK
52 Week Low
08/19/14 - 103.00 NOK
Market Cap
4.2B
Average Volume 10 Days
2.5K
EPS TTM
7.70 NOK
Shares Outstanding
39.0M
EX-Date
05/15/14
P/E TM
14.0x
Dividend
3.00 NOK
Dividend Yield
2.79%
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.

Founded in 1956

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farstad shipping (FAR) Key Developments

Farstad Shipping ASA Reports Group Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Farstad Shipping ASA reported group earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total operating income of NOK 1,050.644 million compared to NOK 996.608 million a year ago. EBITDA was NOK 367.729 million compared to NOK 363.945 million a year ago. EBIT was NOK 178.581 million compared to NOK 205.355 million a year ago. Pre-tax profit NOK 51.378 million compared to NOK 11.163 million a year ago. Profit was NOK 46.691 million or NOK 1.20 per diluted share compared to NOK 4.081 million or NOK 0.10 per diluted share a year ago. Cash flow from operating activity was NOK 228.307 million compared to NOK 284.661 million a year ago. Cash flow per share was NOK 5.97 compared to NOK 6.10 a year ago. Investment in fixed assets and contracts newbuilds were of NOK 652.670 million compared to NOK 838.022 million a year ago. For six months, the company reported total operating income of NOK 2,060.300 million compared to NOK 1,904.332 million a year ago. EBITDA was NOK 738.373 million compared to NOK 688.603 million a year ago. EBIT was NOK 371.303 million compared to NOK 378.666 million a year ago. Pre-tax profit NOK 128.612 million compared to NOK 100.646 million a year ago. Profit was NOK 126.239 million or NOK 3.24 per diluted share compared to NOK 86.223 million or NOK 2.21 per diluted share a year ago. Cash flow from operating activity was NOK 485.591 million compared to NOK 578.004 million a year ago. Cash flow per share was NOK 12.22 compared to NOK 12.57 a year ago. Investment in fixed assets and contracts newbuilds were of NOK 1,326.333 million compared to NOK 1,925.032 million a year ago.

Farstad Shipping ASA, Q2 2014 Earnings Call, Aug 19, 2014

Farstad Shipping ASA, Q2 2014 Earnings Call, Aug 19, 2014

Farstad Shipping ASA Announces Charter Agreements Worth NOK 1.75 Billion

Farstad Shipping ASA has been awarded charter contracts. Inpex has awarded contracts to AHTS Far Sword (2006, UT 712 L, 14.700 BHP) and AHTS Far Stream (2006, UT 712 L, 14.700 BHP). Commencement is expected to take place in November 2014. The duration of the contracts will be approximately 40 months, with further up to 24 months options. In addition the PSV Far Seeker (2008, UT 751 E, 4.905 DWT) has been awarded a contract by Inpex with commencement expected to be in November 2014. The contract is for a firm duration of 18 month with further up to 24 months options. The vessel is for the time being traded in the North Sea. Woodside Energy Ltd. has awarded AHTS Far Sirius (2014, UT 731 CD, 24.400 BHP) a 16 month contract, with further up to 18 months options. Commencement is expected to take place in October 2014. The vessel has been traded in the spot market in the North Sea. AHTS Far Stream (2006, UT 712 L, 14.700 BHP) has been awarded a 60 days contract by Woodside with start up in August. Esso Australia has awarded the PSV Far Supplier (1999, VS 483, 4.709 DTW) a two year contract, with further 3 years options. In addition the PSV Far Scandia (1991, UT 705, 3.100 DTW) have been awarded a contract for a fixed period of 10 months with additional 6 months options. The new contracts are in direct continuation of existing contracts. AHTS Far Sabre (2008, UT 712 L, 14.700 BHP) and AHTS Far Sound (2007, UT 712 L, 14.700 BHP) have been awarded contracts by ENI Australia Ltd. for a fixed period of 110 days with additional 35 days options. Commencement is expected to take place in September 2014. AHTS Lady Caroline (2003, UT 712, 12.240 BHP) has been awarded a 60 days contract by SINOPEC for the support of the Stena Clyde. Commencement is expected to take place in August 2014. Statoil has awarded a contract to PSV Far Scotsman (2012, PSV 08 CD, 4,000 DWT) to support the Statoil drilling operations in Tanzania. Commencement will take place in direct continuation to present contract with same charterer. The duration of the contracts will be 8 months, with a further 6 x 6 months option. Karoon Petroleo & Gas Ltda has awarded a 5 months contract with a further 4 x 30 days option to AHTS Far Senator (2013, UT 731 CD, 24,400 BHP) to support their drilling program in Brazil. Commencement of the contract will take place during July 2014. Petrobras has extended the contract on AHTS Far Santana (2000, UT 730, 19 200 BHP) with another 4 year in direct continuation with present contract. Total value of the contracts, excluding options, is approximately NOK 1.75 billion.

 

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