Net Accounting Effect News

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.