$60 million in contracts to keep Solstad vessels at work for 900 days

Norwegian shipping company Solstad Offshore has secured multiple new contracts and contract extensions that have a combined value of around $60 million and represent around 900 vessel days.

The construction support vessel (CSV) Normand Valiant has been awarded a one-and-a-half-year firm contract with Brazil’s oil & gas giant Petrobras, with commencement scheduled for February 2025 in direct continuation of the current contract.

The current contract with Petrobras for the anchor handling tug supply (AHTS) vessel Normand Sagaris has been extended by 120 days until March 2025, when the vessel will start on its earlier announced three-year contract with the same client.

The present contract for AHTS Normand Sirius has been extended to August 2025, with an option to extend it for another 247 days, while a new 60-day contract has been inked for AHTS Normand Saracen. Both vessels will support drilling campaigns offshore Western Australia.

Normand Valiant, Normand Sagaris, Normand Saracen and Normand Sirius are owned by Solstad Maritime Holding AS, in which Solstad Offshore ASA holds 27.3%.

In terms of the most recent news coming from the company, Solstad last month announced it had secured multiple contracts together worth around $53 million for three of its vessels to perform work in Brazil.

Namely, the 2005-built AHTS vessel Normand Topazio has been awarded a one-year contract with commencement in October, with the 2006-built AHTS Normand Turmalina starting a one-year contract this month, both set to be carried out in direct continuation of their current contracts.

Furthermore, the CSV Normand Cutter has been awarded a 9-month contract for subsea construction activities. Commencement was set for October, also in direct continuation of the current contract.