Last €13.94 EUR
Change Today +0.62 / 4.62%
Volume 0.0
FRJ On Other Exchanges
Symbol
Exchange
Oslo
Stuttgart
As of 7:13 AM 07/29/14 All times are local (Market data is delayed by at least 15 minutes).

farstad shipping (FRJ) Snapshot

Open
€13.74
Previous Close
€13.32
Day High
€13.94
Day Low
€13.41
52 Week High
11/4/13 - €17.03
52 Week Low
07/11/14 - €12.56
Market Cap
543.5M
Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
39.0M
EX-Date
05/15/14
P/E TM
--
Dividend
€3.08
Dividend Yield
2.64%
Current Stock Chart for FARSTAD SHIPPING (FRJ)

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farstad shipping (FRJ) 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.

2,200 Employees
Last Reported Date: 05/14/14
Founded in 1956

farstad shipping (FRJ) Top Compensated Officers

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farstad shipping (FRJ) Key Developments

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.

Farstad Shipping ASA Proposes Dividend for 2013, Payable 27 May 2014

Farstad Shipping ASA announced that the Board of Directors will propose a dividend of NOK 3.00 per share for 2013 against NOK 3.00 per share for 2012, at its Annual General Meeting to be held at the company's premises on 14 May 2014. The shares will be traded ex. dividend on 15 May 2014. Payment of dividend will take place on 27 May 2014.

Farstad Shipping ASA Announces Group Earnings Results for the First Quarter Ended March 31, 2014

Farstad Shipping ASA announced group earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported total operating income of NOK 1,009,671,000 against NOK 914,768,000 a year ago. Operating profit before depreciation (EBITDA) was NOK 370,644,000 against NOK 324,658,000 a year ago. Operating result (EBIT) was NOK 192,722,000 against NOK 173,311,000 a year ago. Pre-tax profit was NOK 77,234,000 against NOK 89,483,000 a year ago. Profit was NOK 79,548,000 against NOK 82,142,000 a year ago. Profit per diluted share was NOK 2.04 against NOK 2.11 a year ago. Cash flow per share was NOK 6.25 against NOK 6.46 a year ago. Cash flow from operating activity was NOK 257,284,000 against NOK 293,343,000 a year ago. Investment in fixed assets and contracts new builds was NOK 673,663,000 against NOK 1,087,010,000 a year ago.

 

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FRJ Competitors

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Company Last Change
Gulfmark Offshore Inc $39.00 USD +0.07
Rederi AB Transatlantic kr7.35 SEK +0.05
Solstad Offshore ASA 107.50 NOK -0.50
Great Eastern Shipping Co Ltd/The 365.95 INR -2.55
Ultrapetrol Bahamas Ltd $3.50 USD +0.16
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Industry Analysis

FRJ

Industry Average

Valuation FRJ Industry Range
Price/Earnings 16.7x
Price/Sales 1.1x
Price/Book 0.6x
Price/Cash Flow 4.6x
TEV/Sales NM Not Meaningful
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