May 17 - Facing a hostile and unwelcome takeover by heavy lift giant Dockwise, business at Fairstar might seem anything but usual.

Not according to the company's chief operating officer, Williem Out in announcing a new contract to transport the drilling rig Offshore Vigilant from Port of Spain, Trinidad to Vung Tau, Vietnam on Fairstar's semi-submersible vesselFjell.

Out stated: "It is business as usual at Fairstar. This voyage positions Fjell almost perfectly to be in the Far East just in time to begin her work on the Gorgon contract in August. Once the rig has been safely discharged, we will put Fjell into drydock and prepare the ship for Gorgon certification."

The contract value is USD2.9 million.

Fairstar advises that Fjell has just safely discharged two concrete power generating barges for the Chevron EGTLproject in Escravos, Nigeria and is onroute to Port of Spain to load the drilling rig at the end of May.

Last week also saw Fairstar awarded a contract by Saipem to provide float-over and installation services for the 8,000 tonnes CMMP Platform in the Middle EastGulf, offshore Iraq.

Saipem Fairstar's new 50,000 dwt semi-submersible vessel Finesse for the transportation of the CMMP module from the fabrication facility in Karimun, Indonesia in the second half of 2013.

According to Philip Adkins, ceo of Fairstar, the new Saipem contract "is another example of Fairstar's competitive dominance at the high value segment of the marine heavy transport industry. A float-over operation of this magnitude requires significant engineering skills and a broad range of project management experience. Fairstar has already established itself as the leading provider of module transportation for major LNG projects. Gorgon and Ichthys validated our onshore dominance. Golden Eagle and the CMMP float-over show an equal facility to deliver safe and reliable transportation of high-value off-shore assets to our EPC clients."

www.fairstar.com

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