Solstad’s Arbitration Win Unlocks $14.5M Payment for its Largest Vessel
Solstad Offshore has informed the arbitration proceedings related to disputed 2024 charter hire for Normand Maximus construction support vessel (CSV) had concluded in favor of the company.
The company said it would receive approximately $13 million in charter hire, in addition to around $1.5 million in interest compensation, following the ruling.
Solstad said the decision would have a positive liquidity effect of about $14.5 million and that it expects to recognize a positive profit and loss effect of around $7.5 million in the second quarter of 2026.
Normand Maximus is the largest vessel in Solstad’s fleet and is equipped with a 900-tonne active heave compensated crane and a 550-tonne vertical lay system.
The vessel is 178 meters long and can accommodate up to 180 people.