Fairstar Heavy Transport (FAIR) has signed final contracts with Thiess Pty Ltd to provide the transportation of a Jack-Up Barge from Rotterdam to Melbourne, Australia in August 2010 and then return the Jack-Up Barge to Rotterdam in early 2011. Total contract value is USD 9.5 million.?

Marloes de Vriendt, Tender Manager for Fairstar: “The tender process was rigorous and competitive. Thiess is one of Australia’s leading mining construction, and services contractors. The Victorian Desalination Project is the State of Victoria’s largest ever infrastructure project. The safe and on-time delivery of this Jack-Up Barge is a small, but critical component. Winning this tender was an important step in our strategy to work closely with companies like Thiess on high-value construction and energy projects.”

Dave Hangoor, Operations Manager for Fairstar added: “The size and complexity of construction and energy infrastructure projects in Australia is accelerating. The requirement for marine heavy transport services is growing. The environmental responsibilities of operating in Australia are huge. The pro-active compliance with Australian Quarantine Standards is essential. This voyage of the FJORD in August will give Fairstar valuable experience, working closely with the Australian Quarantine and Inspection Service (AQIS) that will lead to our ability to contribute to other Australian infrastructure projects in the future.

Philip Adkins, CEO of Fairstar feels the contract is of special significance to Fairstar, stating: ”The market for off-shore heavy transport continues to split into two distinctly different categories. Complex construction and energy infrastructure projects provide Fairstar with the best means of creating value for our shareholders and this is the sector of the market where we will concentrate our resources. As a result of this contract, FJORD is now 80% committed for 2010. In spite of a soft overall market today, Fairstar is well-positioned to focus on the projects that suit our competitive strengths. We are grateful to Thiess to have won this tender. Australia is a market of great promise and we believe Fairstar will be a frequent visitor to Australian waters for many years to come.”

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Source: Fairstar Heavy Transport

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