Solstad: Multiple PSV and AHTS contracts

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Solstad announced awards of contracts involving the PSV’s Normand Tantalus, Normand Serenade, Normand Springer and Normand Arctic.

The contracts have a combined firm duration of ca 500 days, with additional options thereafter. The contracts commence during Q2/Q3 2022 and are concluded with key operators in both UK and Norway.

Solstad also announced awards of multiple project contracts involving several of its anchor handlers (AHTS) currently trading the North Sea spot market. The contracts have a combined firm utilization of 350 days, with additional options thereafter. Commencement is during Q2 and Q3 2022 in the North Sea, US Gulf and West Africa.

The combined value of the firm period of the contracts is NOK 230 mill.

The market for offshore vessels continues to improve with strong demand from oil & gas, in addition to an increasing demand from renewable energy activity.