Fleet Trimming Continues as Solstad Sells AHTS Sea Ocelot

Norwegian offshore vessel owner Solstad Offshore has sold another non-core vessel as part of its plan to trim its fleet and make it more competitive.

It said Thursday it had sold the AHTS Sea Ocelot to an unnamed buyer. The 70 meters long vessel, built in 2007, was sold through Solstad's subsidiary Deep Sea Supply Labuan II.

"Delivery of the vessel to the new owner took place today September 9th, 2021. The sale of the vessel will result in an immaterial accounting effect for Q3 -2021," Solstad offshore said, without sharing the sale price. VesselsValue website has the AHTS valued at $2.05 million.

Solstad Offshore last year said that, as part of its restructuring agreement, it would "right-size" its fleet to make it more competitive, with a plan to divest 37 vessels "over a period of time." 

Solstad's aim is to reduce fleet size to a level of 80-90 vessels, a target it expects to achieve by the end of the year.

Some vessels are sold for recycling, some for non-oil & gas activity, and some for geographical areas where the company has limited access.

In August, Solstad sold the 1999-built Sea Panther AHTS for recycling.