Immaterial Accounting Effect News

Solstad Rederi AS, a subsidiary of the Norwegian offshore vessel owner Solstad Offshore, has sold the AHTS Elang Laut 1.The 2009-built vessel has been in layup in Asia since 2019. Delivery of the vessel to the new owner took place today, July 3, 2023," Solstad Offshore said.Solstad Offshore said that the sale of the vessel, at one point known as Sea Eagle 1, will result in an immaterial accounting effect.Solstad Offshore did not say who the buyer of the Elang Laut 1 was.

Norwegian offshore vessel owner Solstad Offshore has this week sold two anchor handling tug and supply vessels, in line with its objective to reduce fleet size to a level of 80-90 vesselsThrough its subsidiary Solstad Rederi AS, the company sold the AHTS Normand Master and Normand Mariner.The delivery of the vessels to the new owner took place on Thursday, and Solstad said the sale of the vessels would result in an immaterial accounting effect.Earlier this month, Solstad Offshore sold three anchor handling vessels…

Offshore vessel owner Solstad Offshore said Thursday it had sold three anchor handling vessels to undisclosed buyers, and also secured work for two platform supply vessels in the UK North Sea.Haugesund, Norway-based company said Thursday it had sold the Nor Captain  - owned by its subsidiary Solstad Offshore Singapore - and Far Sword and Far Stream, owned by its subsidiary Farstad Supply."Delivery of the vessels to the new owner took place today, February 3rd, 2022. The sale of the vessels will result in an immaterial accounting effect…

Solstad Offshore, a Norwegian offshore vessel owner, said Tuesday it had sold the platform supply vessel Far Swan.The company, which last year said it would trim its fleet to make it more competitive, with a plan to divest 37 vessels "over a period of time," said  it had delivered the Far Swan to the new owner on November 16th, 2021."The sale of the vessel will result in an immaterial accounting effect for Q4 2021," Solstad Offshore said. The vessel was sold by Solstad Offshore's subsidiary Farstad Shipping.

Norwegian offshore vessel owner Solstad Offshore is continuing with divestments of non-core vessels and has now sold the Rem Provider platform supply vessel.The vessel, built in 2007, was sold by Solstad Offshore's subsidiary Solstad Rederi AS and the vessel was delivered to the new owner took on Friday. "The sale of the vessel will result in an immaterial accounting effect for Q4 2021," Solstad Offshore said, without sharing further details on the buyer or on the sale value. VesselsValue values the vessel at $3,25 million, with demolition value at around $1,13 million.

Norwegian offshore vessel operator Solstad Offshore has sold seven vessels that have been laid up for a while for recycling."The vessels to be recycled are defined by Solstad as non-strategic, they are of older age and considered to be irrelevant for present and future markets," Solstad said.The vessels are Sea Tiger, Normand Atlantic, Normand Borg, Normand Neptun, Sea Pollock, Far Strider and Far Sovereign and will be recycled at the Green Yard Feda and Green Yard Kleven shipyards in Norway."We are pleased that we finally can start green recycling of a major number of our oldest vessels.

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.

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.

Norwegian offshore vessel owner Solstad Offshore has sold another vessel. This time the platform supply vessel Far Spirit.The company said Tuesday the vessel had been sold by its subsidiary Farstad Marine to an undisclosed buyer."Delivery of the vessel to the new owner took place today June 22nd, 2021. The sale of the vessel will result in an immaterial accounting effect for Q2-2021," Solstad Offshore said, without revealing the sale price. The Far Spirit vessel, of the VS 470 Mk II design, was built in 2007 by Westcon Olen yard in Norway.Solstad Offshore last year said that, as part of its restructuring agreement, it was to "right-size" its fleet to make it more competitive…

Solstad Offshore's subsidiary Farstad Supply has sold its platform supply vessel Far Splendour.According to Solstad, the 74 meters-long vessel was delivered to the new owner on Monday, May 10, 2021."The sale of the vessel will result in an immaterial accounting effect for Q2-2021," Solstad Offshore said.The company did not say who the buyer was, nor for what price the vessel was sold. VesselsValue, as per May 9, valued the platform supplier at $1.78 million.The medium-sized platform supply vessel of the Ulstein P106 design was built by Ulstein Verft in 2003.

Solstad Offshore has sold two anchor handling towing and supply vessels earlier this week.Solstad said that the vessels sold were the AHTS Lady Astrid and Lady Caroline.Delivery of the vessels to the new owner took place Wednesday, March 17th, 2021. "The sale of the vessels will result in an immaterial accounting effect for 1Q 2021," Solstad said.Both vessels are of the UT 722 design and built-in 2003, and according to Solstad's past three annual reports, the vessels have been laid up.Solstad did not say did not reveal the identity of the buyer…

Norwegian offshore vessel owner Solstad Offshore has sold three platform supply vessels.The vessels, sold by Solstad's Deep Sea Supply Shipowning AS and Deep Sea Supply Shipowning I AS subsidiaries, are the Sea Angler built in 2007, the Sea Bass built in 2008, and the Sea Turbot, also built in 2008."Delivery of the vessels to the new owner took place today Thursday, February 4th, 2021. The sale of the vessels will result in an immaterial accounting effect for 1Q 2021," Solstad Offshore said.The company did not say who the new owner was nor what the sale price for the PSV trio was.

Oslo-listed offshore vessel owner DOF has through its subsidiary DOF Rederi sold two offshore vessels.DOF said Wednesday it had sold the 2002-built anchor handler Skandi Giant. The AHTS unit has been sold to an unnamed international buyer for an undisclosed fee.VesselsValue has estimated the Skandi Giant's market value to be around $3.1 million.Further, DOF Rederi has agreed to sell the 1983-built (2009-rebuilt) Skandi Hav offshore vessel for recycling. The vessel will be acquired by a yard in Turkey. Delivery to the recycling yard is expected to take place in September this year.According to VesselsValue, Skandi Hav's scrap value is around $450,000. DOF did not provide details on the financial side of the deal.

Norwegian offshore vessel owner Solstad Offshore said that its wholly owned subsidiary Farstad Marine has sold one of its anchor handling tug supply (AHTS) vessels."Farstad Marine has sold the 16304-hp, 2002-built anchor handling tug supply vessel Far Saltire," said the services provider to petroleum related offshore activities.Delivery of the vessel to the new owner took place yesterday (September 18th, 2019).The sale of the vessels will have an immaterial accounting effect for 3Q 2019, the note added.According to company’s financial reports for 2018 and the two quarters of 2019, the anchor handler was in lay-up.The Far Saltire was built at the Ørskov yard. The vessel is 73.6 meters long, 16.8 meters wide, with 2,195 metric tonnes of deadweight.

Norwegian offshore service and supply ship shipping company Solstad Offshore said that its subsidiary Farstad Supply has sold the platform supply vessel (PSV) Far Star.1999-built Brazilian-flagged was sold to an undisclosed buyer.The delivery of the vessel to the new owner took place on Tuesday, August 6, said Solstad Offshore.Solstad added that the sale would have an immaterial accounting effect for the third quarter of 2019.Solstad Offshore now has 60 platform supply vessels in its fleet.

Solstad Offshore Singapore, a wholly owned subsidiary of Solstad Farstad ASA, has sold the AHTS Nor Star    The vessel (5.500 BHP) was built in 2005 built at Pt. Jaya Asiatic Shipyard,Batam Indonesia.   Delivery of the vessel to the new owner has taken place today, Thursday 2nd November, 2017.   The sale of the vessel will result in an immaterial accounting effect for 4Q 2017.   Solstad Farstad is a Norwegian offshore service and supply ship shipping company that operates 50 vessels and two newbuilding CSV, including 19 construction service vessels, 22 anchor handling tug supply vessels and 9 platform supply vessels.

Farstad Marine AS, a wholly owned subsidiary of Solstad Farstad ASA, said it has sold the 1995-built platform supply vessel (PSV) Far Service.   The 4,683 DWT vessel was delivered to its new owner October 3, 2017.    Solstad Farstad said the sale will result in an immaterial accounting effect for Q4 2017.

Solstad Farstad, which claimed to be the world’s largest OSV firm, has sold a relatively new AHTS vessel Far Shogun, since its formation last month following the mega-merger of three leading OSV companies in Norway. The 2010-built, 23,664-bhp Far Shogun has been delivered to the unnamed new owner on Thursday, Solstad Farstad announced. "Wholly owned subsidiary Farstad Supply AS has sold the AHTS Far Shogun to an undisclosed buyer for an undisclosed price. The delivery of the anchor handling tug and supply vessel Far Shogun to the new owner took place on Thursday, July 13," said the company. Solstad Farstad says the sale of the vessel will result in an immaterial accounting effect for third quarter 2017.