FAIRSTAR HEAVY TRANSPORT fleet update

Fairstar Heavy Transport NV (FAIR) has completed the safe discharge of the modules transported by its semi-submersible vessel FJORD for the EGTL Project in Nigeria.

FJORD will sail immediately to Lobito, Angola to load a number of FPSO topside components for DSME and carry them to the DSME facility in Okpo, South Korea. FJORD is scheduled to arrive in Okpo early February 2010.

Fairstar's second semi-submersible vessel FJELL has safely discharged a floating crane and two hopper barges in Dubai for CCCC and its agent, Zhenhua Logistics.

FJELL has been contracted by Heerema for the first of two voyages in 2010 from South Asia to the Halfdan Field in the North Sea and is scheduled to arrive in Shenzhen at the beginning of February.

After loading a jacket and various structural elements FJELL will depart and transit the Suez Canal. FJELL will arrive in the Halfdan Field mid April of 2010. Fairstar will work closely with the off-shore installation team of the Heerema Crane Barge THIALF.

Dave Hangoor, Manager of Operations for Fairstar: "Fairstar is looking forward to a new series of complex transportation assignments. FJORD and FJELL will be well-employed in the first quarter of 2010. Our work in Nigeria was a valuable learning experience for Fairstar. The transportation of modules for energy infrastructure projects are ideal cargoes for our ships. We are confident that FJORD and FJELL have a strong competitive advantage in this niche and we will be working hard to maintain our leadership in this area of off-shore heavy transport".

A collection of pictures and videos of Fairstar projects can be found at http://www.maritimegalleries.com/fairstar.html.