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Solstad Sign Intents in Large Subsea Construction Vessel Deal

Norway headquartered Solstad Offshore ASA (SOFF) inform it has signed a Letter of Intent (LOI) with a major international offshore contracting company to construct & operate a large subsea construction vessel. The intention is that the client will charter the vessel from Solstad for a period of 8 years firm, in addition to 3 x 1 yearly options. At the same time, Solstad have signed a LOI with VARD  to design and build the vessel.