Solstad Pays $4M for Normand Tonjer Vessel Buyback

Solstad Offshore has exercised its option to purchase the construction support vessel (CSV) Normand Tonjer.

The vessel was bought from the Norwegian Mpsv for the net amount of $4 million.

In 2021, Normand Tonjer was sold to Mpsv for a gross amount of $10 million and leased back on a bare boat agreement for a firm three-year period with options for two one-year extensions.

At the end of year two, Solstad had an option to buy the vessel back for which was concluded on December 20, 2023.

“We are very pleased to acquire CSV Normand Tonjer at what we believe are favorable terms for a vessel of such capabilities,” said Lars Peder Solstad, CEO of Solstad.

Normand Tonjer is a CSV built in 2010. The vessel has been supporting ocean bottom node (OBN) seismic operations working for the same client since 2018.