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Monday, April 19, 2021

Solstad Sells 2003-Built AHTS DUO

Maritime Activity Reports, Inc.

March 19, 2021

Credit: Solstad Offshore

Credit: Solstad Offshore

Solstad Offshore's subsidiary Partrederiet International Offshore Services ANS, 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, nor the value of the transaction.

VesselsValue, a specialist website providing vessel valuations, in January valued at around $1,58 million, with demolition value at $1,27 million.

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

By February 2021 they had completed sales of three out of the 37 vessels planned to be divested.

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