A subsidiary of Solstad Offshore has declared the purchase option for a subsea construction vessel (CSV) from a wholly-owned subsidiary of Solstad Maritime for $125 million.
Solstad Offshore's (SOFF) subsidiary Normand Maximus AS, as the charterer, entered into a bareboat charterparty (BBCP) for the CSV Normand Maximus in October 2022 with Maximus Shipping AS, a wholly-owned subsidiary of Solstad Maritime (SOMA), the vessel's owners.
Pursuant to the BBCP, Normand Maximus AS is entitled to purchase the 2016-built vessel after five years of chartering, in October 2027, with 12 months' advance notice for a purchase price of $125 million.
Today, October 6, Normand Maximus AS declared the purchase option for Normand Maximus and will acquire the CSV next October.
The BBCP will terminate once the vessel is delivered. SOFF plans to finance the purchase price through external debt financing.
Normand Maximus is 178 meters long and can accommodate up to 180 people. It features a 900t AHC crane and 550t VLS.