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Solstad Offshore Asa News

14 Dec 2023

Aker Capital Takes Larger Stake in Solstad Offshore

Source: Solstad Offshore

Aker Capital AS has acquired 8,240,000 shares in Solstad Offshore ASA, at an average price of NOK 48.45 per share.Following the transaction, Aker Capital holds 27,089,493 shares in the company, corresponding to an ownership interest of approximately 32.9%.Aker Capital AS is 100% owned by Aker ASA and represented on the board of the company by Frank Ove Reite. Frank Ove Reite also owns 356,509 shares in the company, through Fausken Invest AS.In its Q3 market update, Solstad was positive about demand for offshore services, both from oil and gas and renewables.

14 Mar 2023

Viking Supply Ships to Charter Two Ocean Yield AHTS Vessels. Purchase Options Included

©Solstad Offshore

Anchor handling specialist Viking Supply Ships will take two Ocean Yield-owned AHTS vessels, Far Senator and Normand Statesman, on bareboat charters for a period of five years. The vessels have since October 2020 been on a charter with Normand Chartering, a subsidiary of the Norwegian offshore vessel firm Solstad Offshore ASA. Solstad said it would redeliver the vessels to Ocean Yield at the end of their current commitments. Viking Supply Ships said in a separate statement that it would…

14 Jun 2022

Solstad Sells PSV Normand Corona

Normand Corona (Photo: Solstad Offshore)

Solstad Rederi AS, a wholly owned subsidiary of Norwegian-based offshore shipowner Solstad Offshore ASA, has sold the platform supply vessel (PSV) Normand Corona.The 85.65-meter-long Normand Corona was built at Kleven Verft in 2006.The vessel was handed over to its new owner on June 14, 2022.Solstad said the sale will result in a "minor positive accounting effect" to be reflected in the second quarter of 2022.

11 Feb 2022

Renewables Assignments for Solstad's CSV Trio

Norwegian offshore support vessel owner Solstad Offshore ASA has found work for three construction support vessels, apparently all in the renewables space.Normand Australis has secured a 150-day contract for “Walk to Work” services on an offshore wind project in Asia, starting in March 2022.Normand Cutter has won a 110-day charter for a cable project in Northern Europe with the start-up this month.Also, Normand Fortress has won a 180-day firm contract for “Walk to Work” services on an offshore wind project in Northern Europe. The contract will start in April 2023.

27 Dec 2021

Solstad Awarded AHTS Contract in Brazil

Norwegian offshore vessel operator Solstad Offshore ASA announced on Monday it has been awarded a new contract with Petróleo Brasileiro S.A. (Petrobras) for the 80.4-meter anchor handling tug supply vessel (AHTS) BOS Turquesa.The contract is three years firm, with options thereafter, for supporting exploration and production activities in Brazilian continental shelf.The 2007-built anchor handler is expected to commence work under the contract in the first quarter of 2022.

22 Dec 2021

Solstad Offshore Gets Grant to Cut Offshore Vessel Emissions

Credit: Solstad Offshore

Norwegian offshore vessel owner Solstad Offshore ASA has received an 87 million crowns (~$9.79 million) grant from Innovation Norway to reduce emissions from its fleet.Including the funds from Innovation Norway, the company plans to invest investing more than 300 MNOK ($33.73 million) in battery hybrid conversion projects. Solstad Offshore is planning for a 50% global fleet emission reduction by 2030, with eleven vessels planned to be upgraded over the next three years. The vessels will undergo battery hybrid conversions and will be able to connect to shore power in ports and harbors.

28 Sep 2021

Solstad Offshore Signs Up for Inmarsat Fleet LTE for its North Sea Vessels

Credit: Inmarsat

The Norwegian offshore vessel owner Solstad Offshore has signed a deal with Inmarsat for its new Fleet LTE service, which will cover the connectivity needs of multiple Solstad Offshore vessels in the North Sea.Mobile satellite communications firm Inmarsat explained that offshore vessel operators usually buy LTE and VSAT connectivity separately, using LTE when within range of shore, rigs, or wind farm networks then relying on the crew to switch manually to VSAT beyond 4G coverage limits.

09 Sep 2021

Solstad Sells Sea Panther AHTS for Recycling

Credit: Solstad Offshore

Norwegian offshore vessel operator Solstad Offshore said Friday it had sold its AHTS Sea Panther vessel for recycling.The vessel was sold through Solstad Offshore's subsidiary Solstad Rederi, and the delivery to the buyer took place today August 20th, 2021."The sale of the vessel will result in an immaterial accounting effect for Q3 -2021," Solstad Offshore said, without sharing the sale price."Solstad Offshore ASA is considering several vessels for green recycling as a part of our efforts to be in the forefront of sustainable and [environmentally] optimal operations.

06 Aug 2021

Prysmian Extends Solstad CSV Normand Pacific

Normand Pacific (Photo: Solstad Offshore)

Solstad Offshore ASA announced that Prysmian Powerlink Srl has exercised its option to extend the firm contract for construction support vessel (CSV) Normand Pacific with one year.The firm period will expire on December 31, 2022, Solstad Offshore said, adding that Prysmian has the option to extend the contract with two years beyond the firm period.The 122.4-meter-long Normand Pacific has been on charter with Prysmian since August 2016. The ST 257 L CD design vessel was built in 2010.

30 Jun 2021

Havfram Extends Normand Vision CSV Charter

Normand Vision - Credit: Solstad Offshore

Norwegian offshore vessel operator Solstad Offshore ASA has been awarded a contract with Havfram, previously known as Ocean Installer, for the construction support vessel Normand Vision. The Normand Vision contract will start in direct continuation of the present agreement in place between the parties.The firm period of the contracts covers the majority of 2022 with options for further extensions.Normand Vision is a Construction Vessel designed and built for the installation of Subsea Structures…

11 Aug 2020

Solstad Nabs More Work for Offshore Vessel Trio in Australia

Image Credit: Solstad Offshore

Norwegian offshore vessel owner Solstad Offshore has secured more work for three of its offshore vessels in Australia, following a recently announced deal with BP.As previously reported, Solstad offshore earlier in August said BP would use two anchor handling tug and supply vessels Normand Saracen and Far Senator, along with the platform supply vessel Normand Leader to support its Ironbark drilling campaign. The vessels are expected to start their BP work in the fourth quarter…

02 Jun 2020

Solstad Offshore Names New CFO

Kjetil Ramstad - Credit: Solstad Offshore

Norwegian offshore vessel provider Solstad Offshore has appointed Kjetil Ramstad as the CFO position. Ramstad comes from the position as Finance Director in Solstad Offshore and has worked for the company since 2018. Prior to joining Solstad Offshore, he was Finance Director and CFO for the DeepOcean group from 2008 to 2018. Lars Peder Solstad, CEO of Solstad Offshore said:"I am very pleased to have Kjetil as new CFO in Solstad. He has a strong financial background and a solid operational experience from global businesses. Together with Mr.

01 Mar 2019

Aker BP Awards PSV Frame Agreements

From left: Nils Magnus Himle, Business Development Manager/Eidesvik Offshore ASA; Anne Jorunn Møkster, CEO/Simon Møkster Shipping AS; Per Harald Kongelf, SVP Improvement/Aker BP ASA; and Lars Peder Solstad, CEO/Solstad Offshore ASA (Photo: Aker BP)

Aker BP ASA announced it has awarded frame agreements with three suppliers for the provision of platform supply vessels (PSV), in a move that aims to reorganize the value chain.The three suppliers Simon Møkster Shipping AS, Eidesvik Offshore ASA and Solstad Offshore ASA signed the agreements in Stavanger on Thursday. The duration of the frame agreements is initially for three years, with the option of two additional periods of two years each.Per Harald Kongelf, SVP Improvement at Aker BP…

20 Dec 2018

Ocean Yield in Standstill Pact with Solstad Offshore

Norway-based company engaged in the investment in vessels within oil-service and industrial shipping Ocean Yield ASA has entered into a standstill agreement with Solstad Offshore for two anchor handlers built in 2013, the Far Senator and Far Statesman.Ocean Yield said in a stock exchange annoucement that it has entered into a 6 month standstill period with respect to payment of interest, instalments and charter hire."To the extent the cash in these subsidiaries exceeds NOK 300 million on a consolidated basis, the excess amount will be used for settlement of the delayed payments on a pro rata basis," it said.During the standstill period…

14 Dec 2018

Solstad Scores Long-term Charter with Total

(Photo: Solstad Offshore ASA)

Norwegian vessel owner Solstad Offshore ASA, together with its local partner Petro Services, has entered into a contract with Total Exploration & Production Congo for the construction support vessel (CSV) Far Sleipner.The contract has a duration of two years firm plus four six-month options, Solstad Offshore disclosed on Friday.The vessel, which has been chartered by the same client in Congo since January 2017, will function as a field support vessel (FSV) with remotely operated underwater vehicle (ROV) systems on board to cover for inspection…

09 Nov 2018

Solstad Tallies Equinor Contracts

Normand Skipper (Photo: Solstad Offshore)

Norwegian owner Solstad Offshore ASA informs it has been awarded a contract from Equinor for the two-year charter of the 2005-built platform supply vessel (PSV) Normand Skipper, and an extension for the 2013-built PSV Sea Falcon, for work in the U.K.The 92-meter Normand Skipper will commence in November or December 2018, Solstad said. The contract with Equinor UK Limited includes up to two years of options after the initial firm period.In addition, Equinor exercised a one-year option on the present Sea Falcon contract…

24 Mar 2017

Norway's Solstad Offshore, Farstad Shipping and Deep Sea Supply Agree Merger

Norwegian OSV companies Solstad Offshore, Farstad Shipping and Deep Sea Supply have signed off on merger plans first announced on February 6, 2017. The statutory merger plans have been approved and signed by the boards of Solstad, Farstad, DESSC and Solstad’s relevant subsidiaries, into which Farstad and DESSC will be merged. Deep Sea Supply and Farstad Shipping will merge into and be established as individual subsidiaries under Solstad Offshore, with shareholders of Deep Sea Supply and Farstad Shipping receiving shares in Solstad Offshore as consideration. Each of Solstad, Farstad and DESSC will immediately after this release also issue a separate release which will contain the relevant technical details on the mergers.

05 Jan 2017

Solstad Wins Contract with CUEL Thailand

Norway’s Solstad Offshore ASA has been been awarded a contract with CUEL Limited, Thailand for the derrick lay barge DLB Norce Endeavour in the Gulf of Thailand. According to the contract the 2011-built unit will be used for the provision of transportation and installation for Phase 4 of JDA Block B-17-01. The DLB Norce Endeavour will install 3 new wellhead platforms, 3 subsea pipelines and host tie-ins for CUEL Limited with the offshore work to start in Q3-2017 and comple in Q1-2018 with a combined forecast utilization of the DLB Norce Endeavour of around 60 days. Solstad will provide project management, engineering, procurement and logistics to support to the combined pipeline and structures offshore transportation…

16 Jun 2016

Solstad Offshore Secures Contract with Technip

Normand Pioneer (Photo: Solstad Offshore)

Solstad Offshore ASA (SOFF) says it has entered into a frame agreement with Technip Norge AS and Technip UK Limited (Technip) to supply vessels for trenching, construction and subsea services. The deal’s commercial terms have not been disclosed. The frame agreement, which is valid for 2016-2018, will enable Technip to utilize Normand Progress, Normand Pioneer, Normand Ranger and Normand Mariner. SOFF will be Technip’s supplier of tonnage for trenching and subsea construction work.Normand Pioneer (Photo: Solstad Offshore)

19 Apr 2015

Chevron Hires Norce Endeavour for Thailand Ops

Solstad Offshore ASA (SOFF) has fixed the 2011-built 18,000 dwt crane barge Norce Endeavour to Chevron for work in Thailand next year for around 200 days. Solstad has received confirmation from Chevron in Thailand for the 2016 Offshore Installation Campaign utilizing its Derrick Lay Barge (DLB) Norce Endeavour. Norce Endeavour, which can accommodate 256 people, will install multiple new wellhead platforms and subsea pipelines for Chevron in the Gulf of Thailand. DLB “Norce Endeavour” will install multiple new Wellhead Platforms and Subsea Pipelines for Chevron in the Gulf of Thailand during the 2016 campaign. The offshore scope of work…

12 Mar 2014

Several Companies Shortlisted for Heyerdahl Award

Solstad Offshore ASA, Rolls Royce Marine, Norled AS and Maersk Line have been shortlisted for the prestigious Thor Heyerdahl International Maritime Environmental Award 2014. The prize recognizes candidates from the shipping industry that have made an outstanding contribution to the environment. The award is presented to the winner by H.M. King Harald at the Norwegian Shipowners’ Annual Conference on March 31. The Thor Heyerdahl International Maritime Environmental Award was established in 1999 by Thor Heyerdahl (1914 – 2002) and the Norwegian Shipowners’ Association.

12 Mar 2014

Solstad Sign Intents in Large Subsea Construction Vessel Deal

Rendering of subsea construction vessel courtesy of Solstad

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. The hull will be built at VARD's own facilities in Tulcea, Romania, while the outfitting of the vessel will be done at VARD Brattvaag in Norway.

18 Aug 2013

Solstad Offshore Sell CSV to Charterer

CSV Normand Clough: Photo courtesy of Solstad Offshore

Solstad Offshore has announced the sale of its Construction Support Vessel, CSV 'Normand Clough', with effect from Q4 2013. Solstad Offshore ASA (SOFF) acquired the CSV “Normand Clough” in connection with the division of Rem Offshore ASA in 2009. The vessel has from delivery been engaged on a long term contract with SapuraClough Offshore Pty Ltd. (SapuraClough) which has exercised an option in the charterparty allowing them to buy the vessel after the elapse of five years. The terms of the transaction are confidential between the parties.