Frøya, 12 September 2022:
Frøy ASA, the Norwegian aqua service specialist, has recently signed multi-year time charter contracts for 2 service vessels with a large Norwegian salmon farmer. In total the contracts are estimated to increase Frøy´s backlog with approx. NOK 200 million, including options. The agreements include a 4-year fixed extension of an ongoing time charter contract and a 5-year fixed time charter contract for a newbuild under construction.
Frøy will equip both vessels with large battery packages to reduce the fuel consumption and the carbon footprint. The two vessels are expected to have up to 50% lower fuel consumption than comparable diesel-powered vessels.
CEO of Frøy, Tonje Foss, comments: “The agreement extends a long-term relationship with an important and large client for Frøy. The contract is important for us not just because of its large size, but also as it demonstrates Frøy´s ability to deliver market leading solutions with a significant reduction in carbon footprint. The long contract durations further provides earnings visibility and strengthen our position as a leading provider of aqua services to the Norwegian salmon farming industry”
For further information, please contact:
Tonje Foss, CEO +47 996 10 116
Sondre Vevstad, Interim CFO +47 936 54 555
About Frøy:
Frøy is a leading integrated provider of aqua services to fish farmers. With a team of more than 750 aqua service specialists and a modern fleet of 81 vessels, Frøy offers a wide range of infrastructure and fish welfare services. The service offering includes transport of fish, sorting, counting, cleaning of nets, treatment for diseases and lice, inspection, installation, and maintenance of fish farming sites.