Norway’s new OSV player takes over Blue King PSV from Ulstein

Norwegian offshore vessel builder Ulstein has informed that the Blue King platform supply vessel has been taken over by Sverre Farstad & Co, a new offshore vessel owning company in Norway.

Gunvor Ulstein, CEO of Ulstein Group, said: “We are very pleased that this agreement has been settled and are looking forward to seeing the ship entering into operation. The new shipowner is an exciting addition to the Norwegian maritime cluster and we wish them all the best.”

The 83.4 meters long vessel is of the design type PX121 from Ulstein Design & Solutions and was delivered from Ulstein Verft in May 2016.

As for the new OSV company, it has been established by Sverre Farstad, a former chairman of Farstad Shipping, a company which in 2017 merged into Solstad Farstad.

Sverre Farstad in January 2018 resigned from the Solstad Farstad board. Solstad Farstad then in October 2018 changed the name to Solstad Offshore.

According to an interview with Sverre Farstad published today, the Blue King will be renamed into Farland and will compete in the Norwegian spot market.

Ulstein, the owner of the Blue King through its subsidiary Blue Ship Invest, had not initially provided details on the terms of Sverre Farstad’s “taking over” of the vessel.

To remind, Blue Ship Invest had a ship management contract for the Blue King with Golden Energy Offshore.

Offshore Energy Today has reached out to Ulstein seeking more info on whether Sverre Farstad has actually bought the vessel.

In a response to Offshore Energy Today, a spokesperson said:” The agreement is that Sverre Farstad & Co will buy out the vessel.  The agreement with Golden Energy no longer applies.”

Offshore Energy Today Staff

Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.

Offshore Energy Today, established in 2010, is read by over 10,000 industry professionals daily. We had nearly 9 million page views in 2018, with 2.4 million new users. This makes us one of the world’s most attractive online platforms in the space of offshore oil and gas and allows our partners to get maximum exposure for their online campaigns. 

If you’re interested in showcasing your company, product or technology on Offshore Energy Today contact our marketing manager Mirza Duran for advertising options.