FAIRSTAR HEAVY TRANSPORT NV

FAIRSTAR HEAVY TRANSPORT NV

Previous company name
FAIRMOUNT HEAVY TRANSPORT NV
Name change date
12/12/2007
Company Overview
Fairmount Heavy Transport N.V. is a leading provider of high-end ocean transportation services for clients seeking, reliable and safe transportation of their “high value/high spec” floating and non-floating cargoes. The company is quoted on the Oslo Stock Exchange under the ticker FAIR. Founded in 2005, the company is based in Rotterdam, the Netherlands.
The company purchased and took delivery of two modern state-of-the-art semi-submersible barges (Fairmount Fjord and Fairmount Fjell) in August 2005. The barges will be converted to self-propelled semi-submersible vessels at Malta Shipyards Ltd. in Malta. Once the vessels have been fully converted to semi-submersible transportation vessels they will trade in the world markets to transport large floating and non-floating cargoes mainly used in the offshore oil and gas industry, such as drilling rigs, floating production platforms, modules and others.
Fairmount Fjord is a semi-submersible heavy transport vessel with an overall length of 164.30 meters, a width of 45.50 meters, deadweight of 24,500 tonnes and a displacement of 37,700 tonnes. Fairmount Fjell is also a semi-submersible heavy transport vessel with following specifications: an overall length of 146.30 meters, a width of 36 meters, deadweight of 19,300 tonnes and a displacement of 29,400 tonnes.
Fairmount Heavy Transport has employed Fairmount Marine to provide services for conversion supervision, commercial, and vessel operations. With more than 25 years of experience is long distance ocean towage and transportation of heavy lifts by semi-submersible barges, Fairmount Marine provides Fairmount Heavy Transport with the commercial, operational and ship management expertise required to build the leading offshore heavy transport provider. Fairmount Marine is a world leader in the field of long distance towing of the largest and most valuable objects afloat, such as FPSOs.
For its corporate mission, Fairmount Heavy Transport aims to be the partner of choice for clients seeking high-end ocean transportation services for the largest floating and non-floating cargoes, and to deliver these services is a reliable, safe and environmental friendly way through the integration of our motivated people, quality vessels and innovative solutions.
Business Summary
The Company is a provider of long-distance ocean transportation services for the offshore and onshore industries. The Company operates two of modern self-propelled semi-submersible heavy transport vessels, FJORD and FJELL. The Vessels transport large floating and non-floating cargoes mainly used in the offshore oil and gas industry, such as drilling rigs, floating production platforms, modules, etc. on a contract-to-contract basis.
Description and history
The Company is a provider of long-distance ocean transportation services for the offshore and onshore industries.

History:
The Company was incorporated in July 2005 and subsequently financed with approximately USD 50 million in equity through a private placement in July 2005.

In August 2005, The Company took delivery of the semi-submersible barges BOA 19 and BOA 20 from BOA Offshore AS in Trondheim. The barges were renamed FJORD and FJELL respectively. The FJORD and FJELL are amongst the world’s largest semi-submersible barges. Both barges are due to be converted to self-propelled heavy transport vessels able to transport “high value/high spec” floating and non-floating cargoes over long ocean distances, worldwide. The FJORD entered into service in the offshore heavy transport segment in March 2008. The FJELL sailed away for its maiden voyage in May 2009.

The company is currently quoted on the Oslo Stock Exchange under (ticker: FAIR). on 17 November 2006. Before that date, the Company is listed at the OTC market in Oslo, Norway since 4 August 2005.

Business Line
Rovider of high-end ocean transportation services for clients seeking, reliable and safe transportation of their “high value/high spec” floating and non-floating cargoes
Subsidiary
FAIRSTAR BEHEER B.V.
Advisor
KPMG ACCOUNTANTS N.V.
IPO date
11/17/2006
US SIC Code
4789
Company Address
Tower A
Wenna 316-318
City province or state postal code
3012 NJ, ROTTERDAM
Phone: +31 10 403 5333
Fax: +31 10 403 5344
Country address: NETHERLANDS
Website url: www.fairstar.com