Solstad Offshore Wins Deals for 7 PSVs in West Africa

Norwegian offshore vessel owner Solstad Offshore said Friday it had secured contracts for seven platform supply vessels.

Without sharing the client identity Solstad Offshore said the new medium-term contracts were secured in West Africa. 

Solstad said it had signed letters of agreement with "key clients for 7 PSVs", all with start-up in the fourth quarter of 2021 and the first quarter of 2022. 

"The total firm duration of the contracts is approximately 1,000 vessel days with options to extend the contracts further," Solstad Offshore said.

Based in Skudeneshavn, Norway, Solstad Offshore did not share the financial details of the deals, nor the details on which vessel exactly had won the contracts.

Solstad Offshore has seen an increase in the number of new contracts, leading to an increase active offshore vessel fleet from 75 to 80 vessels during the second quarter. The reactivated vessels are AHTS Nor Captain and PSVs Sea Spear, Normand Titus, Sea Flyer and Sea Spark.

"The offshore activity is slowly improving, both within oil & gas and offshore-wind and Solstad has signed a number of new contracts, all at improved terms," the company said last week.

Also, the company has been working to sell some non-strategic assets and had sold 12 of 37 of those vessels as at August 25, 2021.

More recently, on Thursday, Solstad Offshore said it had won a contract for the construction support vessel Normand Tonjer. The Norwegian offshore vessel owner said the new two-year firm contract would keep the vessel busy until October 2023. Read more.