Farstad has turned to a new market amid depressed offshore vessel chartering.
The company said that Ocean Farming, a subsidiary of the SalMar Group, has awarded Farstad Offshore, a wholly owned subsidiary of Farstad Shipping, a contract for the complete mooring installation and hook-up of Ocean Farming’s semi-submersible offshore fish farm.
Farstad said the scope involves project management as well as execution of the offshore operations.
The project will utilize AHTS vessels from the Farstad Shipping fleet trading the spot market in the North Sea.
Operations are scheduled to take place during first half of 2017. Farstad said that the commercial terms of the agreement will be kept private and confidential between the parties.