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FAIR - klar for et tungt løft... Oppside?


christle

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Hei

 

Har lett etter de upopulære, underanalyserte og derfor også undervurderte selskaper.

Tror jeg har funnet et: FAIR - Fairstar Heavy Transport (http://www.fairstar.com/page.php?idObject=369).

HUSK: HER ER DET OGSÅ STOR RISKO...

 

Referansekurs 16.60

Antall aksjer 33 000 000

Markedsverdi 547 800 000

 

FAIR har to "tungløft" lektere til ombygging til "tungløft skip". Det ene er forhåpentlig snart ferdig, etter mye om og men og STORE OG LANGVARIGE SKUFFELSER, gjennomgår nå "sea-trials"... Det er fortsatt disputter se bl.a. melding om saksøking:

 

11/12-2007 10:59:02: (FAIR) FAIRSTAR RECEIVES COMPLAINT FROM HENK VAN DEN BERG

Henk van den Berg, a 1.82% shareholder in Fairstar

Heavy Transport NV (formerly Fairmount Heavy

Transport NV), through his company Oude Maas

Beheer BV has filed a complaint with the

Enterprise Chamber of the Court of Appeals in

Amsterdam seeking a judicial inquiry into the

affairs of Fairstar as well as petitioning the

Court to suspend all of the members of the

company`s Management and Supervisory Boards.

 

Noen viktige fakta:

 

Har verdiene fordunstet så mye siden - neppe?

På OSE 17. nov. 2006. Emisjon til kurs: NOK 28.50, emiterte 2,990,000 nye aksjer = 85 mill NOK.

Foreløpig anslag på totalkost for ombygging og skipene.: 148 million $ = 800 mill NOK.

 

Sept. cash: 14,552 million $ = 78 mill NOK.

Sept. verdier av fixed assets: 118,402 = 637 mill NOK.

Sept. Non-current liabilities og Current liabilities: 71 million $ = 383 mill NOK.

 

Skagen Fondene finner upopulære, underanalyserte og derfor også undervurderte selskap

02/10-2007 SKAGEN Fondene har i dag kjøpt 197.200 aksjer i Fairmount Heavy Transport NV (FAIR). Etter kjøpet eier fond forvaltet av SKAGEN Fondene 1.788.200 aksjer i FAIR eller 5,42% av selskapet. Kurs 22,- ???

 

Innsidekjøp

On November 26 2007, Cristijn du Marchie Sarvaas, CFO and member of Fairmount Heavy Transport NV`s

Management Board, purchased 20,000 shares in FAIR at NOK 17.00 per share. After the transaction, du

Marchie Sarvaas owns 48,000 shares in Fairmount Heavy Transport NV.

 

On November 26 2007, Philip Adkins, CEO and member of Fairmount Heavy Transport NV`s Management

Board, purchased 20,000 shares in FAIR at an average price of NOK 17.95 per share. After the transaction, Adkins owns 20,000 shares in Fairmount Heavy Transport NV.

 

Kontrakter på gang...

 

Oppkjøpskandidat...

24/08-2007 10:22:28: (FAIR) FHT APPROACHED BY UNSOLICITED THIRD PARTY

The Board of Directors of FHT has been approached

by a third party who has informed the Board it is

planning to acquire control of FHT.

 

The third party did not provide any proof of

financial backing to support their approach to the

company. At this time, management is sceptical

that this third party can be taken seriously as a

potential bidder for the company. Furthermore,

management would suggest to shareholders that the

current level of the company`s share price does

not reflect the full and fair value of the

company`s business.

 

Philip Adkins, CEO, stated `If someone wants to

buy FHT, we will of course evaluate any proposals

properly and seek to achieve the best possible

result for our shareholders. However, we will also

maintain a close watch on any attempt to acquire

control of the company by any means that does not

provide all of our shareholders with the

opportunity to receive the highest possible price

for their shares.`Ekstern link: http://www.newsweb.no/index.jsp?messageId=158362

 

 

Fra HO:

 

Innlegg av: Gjest (12.12.07 11:56 ), lest 56 ganger

Ticker: FAIR

RE^1: FAIR - kan noen forklare fallet?

 

DNV godkjenner helt sikkert Fjord, og det blir de påfølgende ukene spekulasjoner om kontrakter som komer til å dra aksjen opp i 23 kroner. Ved kontrakt over 80.000USD ser vi kurser nærmere 30.

 

Ikke glem at det for noen måneder siden kom intressenter på banen som ønsket å kjøpe skipene, da var kursen i 23, og selskapet avviste det blankt. Bløpet det var snakk om måtte garantert gitt oss aksjonærer 27 kroner++, kanskje over 30. Og det var altså ikke godt nok ifølge ledelsen.

 

Innlegg av: Gjest (12.12.07 15:20 ), lest 24 ganger

Ticker: FAIR

RE^1: FAIR - kan noen forklare fallet?

Jiff, april neste år var planen. De har jo allerede begynt. Men den kommer vel ikke før i slutten av H1 neste år. Derfra og utover blir det PE på 2,5 med dagens kurs. OG DET ER NESTE ÅR. Ikke i 2011 osv....

 

 

Ellers mye nyttig info. hos konkurrenten OHL på: http://www.newsweb.no/atmnt/OHL+-+Pareto+O...07.pdf?id=46284

 

Mvh,

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Hei

 

Under finner dere en link til en oppdatert presentasjon, den er merket den 17.12.07

 

Det står bl.a. at:

  • S. 5 Fart på fartøyene over 12 knop
  • S. 8: Fairstar vessels are among the most modern in the industry & Fairstar vessels have a competitive advantage over newentrants with converted tankers
  • S. 16 Fairstar has a very experienced organisation in place
  • S. 20:

 

Key assumptions:

  • q T/C revenues of USD 80,000 per day per vessel (USD 64,000 on annualised basis at 80% utilisation)
  • q Opex and G&A after conversion est. to be USD 10,000 and USD 3,000 per day per vessel
  • q 80% utilisation of the vessels
  • q Interest rate cost of 7-8%
  • q Straight line depreciation over 25 years
  • q Dutch tonnage tax 0% for 10 years, est. 5% thereafter

 

Break-even analysis

  • q Solid business case even at lower day rates and utilisation levels
  • q Opex/G&A and interest payments covered at a day rate of USD 21,000
  • q At base case day rates the break-even utilisation is 35-40%

 

S: 23: F

  • A recapitalisation of FHT through a bank or bond
  • issue (equity ratio from 44% today to 30%) will
  • provide the company with US$ 64 million
  • FHT can pay out an extraordinary dividend
  • Business is highly cash-generative from 2008

 

S. 25 :FJORD

q Finalising conversion and commissioning

q Expected to sail end-December 2007

 

Forventer melding i morra..

 

 

http://www.fairstar.com/media/20071213%20F...update%20A4.pdf

 

Mvh,

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  • 3 weeks later...

Suksessforvalter Falnes anbefaler hele ni aksjer

- En god «stockpicker» vil kunne gjøre det svært bra, sier suksessforvalter Kristian Falnes i Skagen Fondene, som mener det norske aksjemarkedet er lavt priset i forhold til selskapenes inntjeningsnivå. Her anbefaler han hele ni aksjer.

 

Artikkel av: Marianne Løland (Finansavisen - 05.1.08 09:39)

Leserinnlegg(4) Tips en venn Skriv ut

Relaterte artikler

- 2008 blir enda et vanskelig år

Analytiker: Denne aksjen kan bli et vinnercase i 2008

Meglerhus høyner kursmål

 

 

- Jeg tror på et volatilt marked som i fjor i 2008, men det bør ikke være tvil om at aksjemarkedene er lavt vurdert for tiden. Dette gjelder både når man ser på aksjer kontra renter, og når man ser på den absolutte inntjeningen. Aksjemarkedet er imidlertid avhengig av de internasjonale konjunkturene, og her trekker USA i feil retning. Veksten er på vei ned, men jeg tror den vil bli mer enn oppveid av en fortsatt kraftig oppgang i de såkalte «emerging markets», sier Falnes, ifølge Finansavisen.

 

Skagenforvalteren mener dermed at det er liten grunn til å frykte at det vil bli noen generell nedgang i aksjemarkedene i år.

 

- Det vil bli viktig å ha en god spredning i porteføljene. Driverne i markedet vil bli mange, og en god «stockpicker» vil kunne gjøre det svært bra, sier han.

 

Ifølge Finansavisen hadde Falnes selv intet strålende år i fjor i Skagen Vekst, men i år satser han på at en bred portefølje med blant annet Bonheur, Solstad, Fairstar Heavy Transport og Hurtigruten, vil bringe han tilbake på gamle og svært gode avkastningsnivåer.

 

Hele artikkelen finner du i dagens Finansavisen.

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Hei

 

Flere innsidekjøp; ledelsen vil ha sin del av kaka...

 

06/01-2008 14:59:21: (FAIR) MANDATORY NOTIFICATION OF TRADE

 

 

On 4 January 2008, Mr W. Out, Fleet Director of

Fairstar Heavy Transport NV, purchased 15,000

shares in FAIR at an average price of NOK 17.85

per share. After the transaction, Mr Out owns

15,000 shares in Fairstar Heavy Transport NV.

 

For more information:

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, for entry into service in the

offshore heavy transport segment in 2008. Fairstar

Heavy Transport N.V. is a Rotterdam based company

currently quoted on the Oslo Stock Exchange

(ticker: FAIR).

 

For more information: www.fairstar.com

Philip Adkins, CEO (philip.adkins@fairstar.com,

+44-779-668 1414)

Cristijn Sarvaas, CFO

(cristijn.sarvaas@fairstar.com, +31-6-531 431 08)Ekstern link: http://www.newsweb.no/index.jsp?messageId=200344

 

 

05/01-2008 13:03:57: (FAIR) MANDATORY NOTIFICATION OF TRADE

 

 

On 4 January 2008, Mr C. Zeestraten, Chief

Engineer employed by Fairstar Heavy Transport NV`s

subsidiary Fairmount Maritime Services BV,

purchased 4,400 shares in FAIR at an average price

of NOK 17.70 per share. After the transaction, Mr

Zeestraten owns 4,400 shares in Fairstar Heavy

Transport NV.

 

For more information:

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, for entry into service in the

offshore heavy transport segment in 2008. Fairstar

Heavy Transport N.V. is a Rotterdam based company

currently quoted on the Oslo Stock Exchange

(ticker: FAIR).

 

For more information: www.fairstar.com

Philip Adkins, CEO (philip.adkins@fairstar.com,

+44-779-668 1414)

Cristijn Sarvaas, CFO

(cristijn.sarvaas@fairstar.com, +31-6-531 431 08)Ekstern link: http://www.newsweb.no/index.jsp?messageId=200339

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Hei

 

Det ser ut som om det nærmer seg ferdigstillelse... Krysser fingrene... Kursen holder seg overraskende godt i et fallende marked, og det synes som om ORS handler stort...

 

 

11/01-2008 15:53:38: (FAIR) FJORD TO UNDERGO FINAL DNV SEA TRIALS FOR CLASS APPROVAL

 

 

Fairstar Heavy Transport NV (FHT) is pleased to

inform the market that significant progress has

been made in close consultation with the DNV to

remedy all outstanding points in order to certify

the FJORD for its final Class Approval. There are

a number of test that DNV has required the ship to

perform over the next 10 days. Management of FHT

does not expect anything to arise at this time

which will impede the ability of the FJORD to

obtain Class Certification as a self-propelled

heavy transport ship from DNV, widely regarded to

be the premier Classification Society in the

offshore industry.

 

The first round of sea trials in December revealed

a number of aspects of the ship`s construction and

systems that the DNV has asked us to revisit. For

example, the bubbles flowing down the keel created

by the ship`s new bulbous bow interfere with the

accuracy of the ship`s echo sounder, which will

now need to be repositioned. This is not a major

problem, but will require FJORD to spend a day in

dry dock to re-locate the sensor. In addition, DNV

has required the company to execute a series of

thermal imaging tests on the vessel when it next

leaves port to ensure there are no dangerous `hot

spots` caused by the density of almost 200

kilometres of electrical cabling that is now in

the FJORD.

 

Philip Adkins, CEO of FHT commented from

Malta: `We are pleased with the results so far.

DNV is tough, but we know that the value of a DNV

Class approval is the `Gold Standard` in our

industry. The holiday period caused us to lose the

momentum that we had at the end of last year, but

I am satisfied that everything is moving in the

right direction and we will be on our way this

month.`

 

 

For more information:

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, for entry into service in the

offshore heavy transport segment in 2008. Fairstar

Heavy Transport N.V. is a Rotterdam based company

currently quoted on the Oslo Stock Exchange

(ticker: FAIR).

 

For more information: www.fairstar.com

Philip Adkins, CEO (philip.adkins@fairstar.com,

+44-779-668 1414)

Cristijn Sarvaas, CFO

(cristijn.sarvaas@fairstar.com, +31-6-531 431 08)Ekstern link: http://www.newsweb.no/index.jsp?messageId=200724

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Flagging.

 

Det er tydelig hvem ORS har handlet for - Torghatten Trafikkselskap ASA. Kan vanskelig se at dette er en industriell investering, men aldri si aldri...

 

Fra deres hjemmeside:

"Torghatten Trafikkselskap ASA har drevet transportvirksomhet siden 1878.

På landsbasis har konsernet i dag ca 1800 dyktige medarbeidere. Selskapets strategi fastlegger at vi skal være ett ledende selskap i nasjonal sammenheng. Selskapet skal forbindes med god sikkerhet, effektivitet og miljøaktivitet.. Torghatten Trafikkselskap ASA skal være rett valg for trafikanter, ansatte og eiere.

 

God reise

 

Konsernet driver innen flere felt som kan klassifiseres slik:

 

Kollektiv transport

Ferje, Hurtigbåt, Buss

Reisebyrå

Eiendommer

Security

Verksteder

 

Kollektivtransport er hovedvirksomheten"

 

 

17/01-2008 14:16:39: (FAIR) Fairstar Heavy Transport NV - Flagging

 

 

Torghatten Trafikkselskap ASA har i dag kjøpt

650.000 aksjer i Fairstar Heavy Transport NV.

Aksjene er kjøpt til kurs NOK 18.

 

Ny beholdning er 2.277.298 aksjer, dvs. 6,9 % av

totalt antall aksjer.Ekstern link: http://www.newsweb.no/index.jsp?messageId=200990

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Hei

 

"Uflaksen" står i kø...

 

25/01-2008 14:06:49: (FAIR) CONVERSION UPDATE

For the last four days force nine storm conditions

have prevented the Fairstar Heavy Transport NV`s

(FHT) vessel Fjord from departing Valetta Harbour

in Malta. The local pilot has advised against

trying to manoeuvre Fjord out of the harbour in

such extreme conditions. It is important to point

out that the vessel can operate quite capably and

safely in this type of weather once it is out of

the port. However, the close coordination of the

three tug boats under the control of the Maltese

pilot would expose Fjord to unnecessary risks when

trying to leave port. As a result the ship has

been waiting for a weather window.

 

Philip Adkins, CEO, reports from Malta that the

weather has now improved and Fjord will depart on

Saturday morning under the supervision of DNV for

its final class certification sea trials. Fjord

is expected to be at sea for at least two days and

will return to Valetta on Monday. Weather

permitting, a 24-hour submersion test will then be

performed in a sheltered area within the harbour.

FHT will post photos of the sea trials and the

submersion test on its site as they become

available.

 

For more information:

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, for entry into service in the

offshore heavy transport segment in 2008. Fairstar

Heavy Transport N.V. is a Rotterdam based company

currently quoted on the Oslo Stock Exchange

(ticker: FAIR).

 

For more information: www.fairstar.com

Philip Adkins, CEO (philip.adkins@fairstar.com,

+44-779-668 1414)

Cristijn Sarvaas, CFO

(cristijn.sarvaas@fairstar.com, +31-6-531 431 08)Ekstern link: http://www.newsweb.no/index.jsp?messageId=201531

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Når vi har ventet så lenge - så kan vi vel vente til over helga også?:)

 

Hei

 

Seff., men jeg er bekymret for at det også kan være noe galt, jf. melding 11/01-2008: "DNV

has required the company to execute a series of thermal imaging tests on the vessel when it next

leaves port to ensure there are no dangerous `hot spots` caused by the density of almost 200

kilometres of electrical cabling that is now in the FJORD"...

 

Velger imidlertid å sitte selv. Går dette bra, er oppsida bra... I tillegg virker innsidekjøp noe beroligende...

 

Mvh,

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Ja, dette ser lovende ut...

 

28/01-2008 13:57:10: (FAIR) FJORD SUCCESSFULLY COMPLETES FINAL SEA TRIALS

The management of Fairstar Heavy Transport NV

(FHT) is please to announce the Fjord returned to

port on Sunday night after two days of extensive

sea trials under the supervision of DNV.

 

Willem Out, Fairstar`s Director of Fleet,

reported `The ship performed extremely well and

with the exception of the speed log/echo sounder,

which will need to be re-located on the hull in

order to reduce the impact of bubbles affecting

the instrument`s accuracy, we are completely

satisfied with the performance of this vessel.`

 

The Fjord will go into dry dock for one day later

this week in order to re-position the speed

log/echo sounder further aft of its present

position.

 

A submersion test is scheduled to commence on

Wednesday and take 24 hours. The test will take

place in Valetta Harbour. Pictures of the

submersion test will be released on the Fairstar

web site as soon as the test is complete.

 

*****

 

Profile Fairstar Heavy Transport:

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, for entry into service in the

offshore heavy transport segment in 2008. Fairstar

Heavy Transport N.V. is a Rotterdam based company

currently quoted on the Oslo Stock Exchange

(ticker: FAIR).

 

For more information: www.fairstar.com

Philip Adkins, CEO (philip.adkins@fairstar.com,

+44-779-668 1414)

Cristijn Sarvaas, CFO

(cristijn.sarvaas@fairstar.com, +31-6-531 431 08)Ekstern link: http://www.newsweb.no/index.jsp?messageId=201619

 

 

Nyheten er levert av OBI.

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Ikke helt ferdig, men så godt som!

 

Utrolig at verftene/designerne ikke klarer å plassere transducerne riktig - dette er ikke akkurat første gang jeg hører den historien....

 

 

 

edit: du var raskere christle...

 

Ja, det var jeg denne gangen og...

 

Merkelig at de kun nevner dette med plassering av ekkolodd, men ikke et ord om "varmeutvikling og kabelgater"; jeg var langt mer bekymret for sistnevnte, da det kunne gitt saftige ombyggingskostnader...

 

Utrolig merkelig at FAIR ikke kan nøye seg med en børsmelding om dagen og ta alt i en... Etter det jeg vet koster det ganske mye per melding...

 

Kontrakt neste...

 

28/01-2008 15:15:22: (FAIR) FAIRSTAR STRENGTHENS ITS SHIP MANAGEMENT ORGANISATION

Fairstar Heavy Transport NV (FHT) is please to

announce that it has received its interim Document

of Compliance (DOC) certificate from DNV. The DOC

certificate allows Fairstar to operate as an

independent ship manager for its vessels.

 

To further strengthen its crew management

organisation, FHT has also appointed Rotterdam

based Transport & Offshore Services (TOS) as its

crewing manager. TOS is a worldwide supplier of

nautical and technical personnel, active in the

areas of shipping, offshore, dredging, marine

contracting and inland shipping. TOS also manages

turn-key ship delivery projects and recruits

personnel for onshore duties.

 

TOS will support FHT with various services

including crew management, recruiting, training

and administrative management. TOS will also

provide additional crew members, to supplement the

core team of 24 Captains and Officers employed

directly within FHT.

 

Philip Adkins, CEO FHT: `Having experienced

industry veterans aboard our ships is an important

part of our strategy to exceed our client`s

expectations to deliver their high

value cargoes safely and dependably. We are very

pleased to have an experienced partner like TOS to

attract and retain the best heavy transport

professionals in the industry.`

 

Kees Wagenaar, CEO TOS: `We are looking forward to

a constructive cooperation, based on a long term

relationship. We are proud to be involved in

making Fairstar a leading global provider of high

end ocean transportation services`.

 

*****

 

Profile Fairstar Heavy Transport:

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, for entry into service in the

offshore heavy transport segment in 2008. Fairstar

Heavy Transport N.V. is based in Rotterdam and

quoted on the Oslo Stock Exchange (ticker: FAIR).

 

For more information: www.fairstar.com

Philip Adkins, CEO (philip.adkins@fairstar.com,

+44-779-668 1414)

Cristijn Sarvaas, CFO

(cristijn.sarvaas@fairstar.com, +31-6-531 431 08)

 

Profile TOS:

TOS is a worldwide supplier of nautical and

technical personnel, active in the areas of

shipping, offshore, dredging, marine contracting

and inland shipping. TOS also manages turn-key

ship delivery projects and recruits personnel for

onshore duties. TOS recruits and selects in

accordance with high standards, and possesses a

NEN 4400, VCU and an ISM certification and is

working to achieve an ISO 9001:2000 on short

notice.

TOS has been in the crewing business for more than

15 years. TOS has its headquarters in Rotterdam

and a network of branch offices in Vlissingen

(Netherlands), Děčín (Czech Republic) and Gdynia

(Poland) and partners in the Philippines, Ukraine

and Malaysia.

TOS continuously employs around 500 employees,

derived from her global database of qualified

personnel numbering 2000 people.

 

For more information: www.tos.nl

Kees Wagenaar, CEO (k.wagenaar@tos.nl, +31-10-436

6293)

Marleen Stuurman, General Manager

(m.stuurman@tos.nl, +31-10-436 6293)Ekstern link: http://www.newsweb.no/index.jsp?messageId=201634

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Orion krysset en post på 250000 - ikke enormt, men i forhold til omsetningen eller så er det jo litt - noen som har formening om hva de driver med (evt kunden)

 

 

Hei

 

Se innlegg av den 17. januar 2008

 

"Det er tydelig hvem ORS har handlet for - Torghatten Trafikkselskap ASA. Kan vanskelig se at dette er en industriell investering, men aldri si aldri..."...

 

Mvh,

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Klappet og klart for kontrakt...

 

Ser og i Hegnar.no at Falnes i Skagen Fondene anbefaler FAIR...

 

On Friday 1 February 2008, Fairstar Heavy Transport

NV (FHT) finished three days of extensive tests on

all aspects of the Fjord`s ballast system. This

culminated in a complete submersion of the vessel`s

hull to a depth of approximately 20 meters below

the surface, giving about 11 meters water above

main deck.

 

Dave Hangoor, Fairstar`s Operations Manager,

reports from Malta: `The submersion test was a

complete success. All systems were checked by our

technical team and were put to a rigorous

inspection before, during and after the submersion.

The Fjord is equipped with one of the most

sophisticated ballast control and loading systems

in the world. The submersion was smooth,

controlled, and the stability profile of the Fjord

was exceptional. We are delighted with the vessel`s

performance and look forward to taking the vessel

into service`

 

The Fjord has passed the most important test for a

vessel of this type. We can now show our clients

that we have a vessel that is suitable for a wide

range of heavy cargoes. The precision and control

demonstrated by the Fjord will sharpen our

competitive advantage and position us to go after

the most valuable cargoes of the most demanding

clients. Safety and security are hallmarks of the

offshore world, and we believe the Fjord will

emerge as the vessel of choice for the most

demanding cargoes and float over operations.

 

Philip Adkins, CEO, stated: `What a great result by

a great team. Our shareholders would be proud of

the performance of the Fairstar Team in Malta. It

has been a difficult challenge, but everyone here

in Malta has worked tirelessly to solve any

problems that have presented themselves. We expect

to finalise the final paperwork from DNV in the

coming week, after which the Fjord will enter the

global fleet of heavy transport vessels. We have an

experienced crew on board, a strong support team on-

shore and one of the most modern, versatile vessels

afloat.`

 

*****

 

Profile Fairstar Heavy Transport:

 

Various pictures of the submersion testing can be

found on our website www.fairstar.com.

 

The FJORD and FJELL were amongst the world`s

largest semi-submersible barges. Both barges are

being converted to self-propelled heavy transport

vessels, for entry into service in the offshore

heavy transport segment in 2008. Fairstar Heavy

Transport N.V. is based in Rotterdam and quoted on

the Oslo Stock Exchange (ticker: FAIR).

 

For more information: www.fairstar.com

Philip Adkins, CEO (philip.adkins@fairstar.com, +44-

779-668 1414)

Cristijn Sarvaas, CFO

(cristijn.sarvaas@fairstar.com, +31-6-531 431 08)Ekstern link: http://www.newsweb.no/index.jsp?messageId=202000

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Har sittet i møte i hele dag så har ikke fått dette med meg før nå - synes 6% er en moderat oppgang på denne meldingen - skjønt det bekymrer meg lite - har lest litt på hjemmesiden og synes dette ser ut som et bedre og bedre case - spesielt nå som de har en operativ båt og har fått bekreftet at verftet klarer konverteringene til slutt . Fjell bør unngå de samme forsinkelsene.

 

Vurderer å kjøpe litt mer.

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Har sittet i møte i hele dag så har ikke fått dette med meg før nå - synes 6% er en moderat oppgang på denne meldingen - skjønt det bekymrer meg lite - har lest litt på hjemmesiden og synes dette ser ut som et bedre og bedre case - spesielt nå som de har en operativ båt og har fått bekreftet at verftet klarer konverteringene til slutt . Fjell bør unngå de samme forsinkelsene.

 

Vurderer å kjøpe litt mer.

 

Helt enig

 

Skagen har sett det samme som oss, og det er betryggende.

Tror selv at FAIR blir kjøpt opp. Det er store stor- og samdriftsfordeler her. I tillegg vil en eksisterende aktør kunne fjerne en "konkurrent", noe som gjør at FAIR har større verdi for en eksisterende aktør enn for andre (også oss)...

 

Et usikkerhetsmomoment nå er imidlertid hvor hyppig beskjeftigelse de får på skutene...

 

Mvh,

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  • 2 weeks later...

 

Hei

 

Sendte en e-post til Fairstar i går med følgende spørsmål:'

 

To whom it concern,

 

I would be pleased if you could answer the following three questions.

In my point of view, the share price of Fairstar Heavy Transport N.V does not reflect the value of the company. This increases the probability of a (hostile) takeover, and a situation where it is accepted by (uninformed) shareholders. One of the least costly way to reduce the probability of a hostile takeover and also to provide value and important information to the market and shareholders, is to provide a frequently updated list (once a week) of the major shareholders (for example the 20 largest).

 

1) Will you provide an updated list of the major shareholders?

 

At page 21 in your recent publication on the website it is written “Final negotiations with the yard regarding Fjord are ongoing”. At page 24 in the same publication it is written “Fixed conversion costs with shipyard (EPC contract)”. This confuses me.

 

2) Are the costs of the fjord conversion fixed or are they also under negotiation?

 

 

3) When will you publish the final certificate obtained from Veritas?

 

Thanks for your response, your efforts and your daily work,

 

A worried minor shareholder in Fairstar Heavy Transport N.V

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Angående konverteringskostnadene..kan det være at de prøver å presse prisen pga forsinkelsene?

 

Blir spennende å se om det kommer svar - og hva det evt er...

 

Hei

 

Har fått svar på noe. FAIR har fått lagt ut lista over de 20 største aksjonærene, men denne kan ikke være oppdatert da Torghatten flagget eierpost på 6,9 pst. den 17/01-2008. Legg imidlertid merke til spredningen av eierskapet på mange tilsynelatende finansielle investorer; det betyr at oppkjøpere har gode muligheter:

http://www.fairstar.com/media/20080117%20F...hareholders.pdf

 

Fairstar Heavy Transport NV 17-Jan-08

Largest Shareholders List

A/C TYPE SURNAME COUNTRY HOLDING OF SHARES

NOM CREDIT SUISSE SECURITIES UNITED KINGDOM 2,733,333 8.3%

NOM GOLDMAN SACHS INT. - EQUITY - UNITED KINGDOM 2,519,300 7.6%

NOM GOLDMAN SACHS & CO - EQUITY UNITED STATES 1,735,300 5.3%

SKAGEN VEKST NORWAY 1,718,200 5.2%

ODIN OFFSHORE NORWAY 1,697,800 5.1%

CREDIT SUISSE SECURITIES UNITED KINGDOM 1,530,500 4.6%

VERDIPAPIRFOND ODIN MARITIM NORWAY 1,400,000 4.2%

NOM FORTIS BANK LUXEMBOURG S.A. LUXEMBOURG 1,316,259 4.0%

NOM BANK OF NEW YORK, BRUSSELS BRANCHBELGIUM 1,298,500 3.9%

NOM CITIBANK N.A. HONG KONG 1,188,890 3.6%

TORGHATTEN TRAFIKKSELSKAP AS NORWAY 1,183,800 3.6%

NOM SIS SEGAINTERSETTLE AG 25PCT SWITZERLAND 1,173,700 3.6%

NOM DANSKE BANK A/S DENMARK 1,091,500 3.3%

NOM SEB LONDON SWEDEN 967,000 2.9%

NOM UBS AG, LONDON BRANCH UNITED KINGDOM 751,710 2.3%

NOM SVENSKA HANDELSBANKEN DEPOT NORWAY 633,454 1.9%

CAPRICORN INVESTMENT AS NORWAY 600,000 1.8%

OUDE MAAS BEHEER B.V. NETHERLANDS 600,000 1.8%

NOM SEB PRIVATE BANK S.A. LUXEMBOURG LUXEMBOURG 559,100 1.7%

NOM KAS DEPOSITARY TRUST COMPANY NETHERLANDS 550,465 1.7%

DNB NOR NAVIGATOR NORWAY 450,167 1.4%

SEB ENSKILDA ASA NORWAY 404,000 1.2%

NOM DRESDNER BANK AG LONDON BRANCH UNITED KINGDOM 398,970 1.2%

DNB NOR SMB NORWAY 361,041 1.1%

NORDEA BANK PLC FINLAND FINLAND 310,800 0.9%

27,173,789 82.4%

Total number of shareholders: 270

Total number of shares outstanding: 32,990,000

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Hei

 

Om konverteringskostnader knyttet til Fjord:

 

22/02-2008 09:03:33: (FAIR) FAIRSTAR AND MALTA SHIPYARDS AGREE TO FINAL SETTLEMENT FOR ALL OUTSTANDING COMMERCIAL TERMS

Fairstar Heavy Transport announces it has agreed

with Malta Shipyards on all outstanding commercial

points. Fairstar will be making a final payment

on redelivery of E2.5million. This payment will

achieve a full and final resolution of all

commercial points of the Fjord Conversion

Contract. Philip Adkins, CEO, reported from

Malta `Fairstar is pleased to have worked closely

with Malta Shipyards to finalise this commercial

agreement. The Fjord conversion was a difficult

and complicated project for all of us. In

addition to finalising the economics of the

contract once and for all, the agreement was

achieved in a friendly and cooperative spirit.

This eliminates the possibility of any adversarial

fall-out between our two companies and paves the

way to work closely together on Fjell. I believe

we have all learnt a lot from this experience and

are mutually determined to make sure Fjell is more

successful. Fairstar is especially grateful for

the involvement of Malta Shipyards new Chairman,

Mr Robert Aquilina. Mr Aquilina was instrumental

in bringing Fairstar and Malta Shipyards to a

constructive and positive resolution of the

situation that could have easily become hostile

and adversarial. Fairstar is looking forward to

working with Malta Shipyards on the Fjell project.

 

The Fjord will be weighing anchor and leaving

Malta next week. Fairstar is finalising

discussions with a number of counterparties

interested in using the Fjord for their offshore

transport projects. FHT looks forward to

announcing these details once negotiations have

been finalised.Ekstern link: http://www.newsweb.no/index.jsp?messageId=203553

 

 

Nyheten er levert av OBI.

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Det mest gledelige må vel være:

 

Fairstar is finalising

discussions with a number of counterparties

interested in using the Fjord for their offshore

transport projects. FHT looks forward to

announcing these details once negotiations have

been finalised

 

Nå kjenner jeg ikke ledelsens infostrategi - men de virker relativt nøkterne og da må en slik uttalelse vel være meget positiv...

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