Solstad Offshore lands new vessel deals

Norwegian offshore vessel owner Solstad Offshore has entered into contracts for three of its large platform supply vessels (PSVs) and an anchor handler. 

Solstad said on Friday that the 2014-built Normand Service (ex. Sea Spider) or sister vessel had been contracted to GeoSea for a period of 180 days firm plus up to seven months of options.

The vessel will support wind farm installation operations at the Moray Firth Eastern Development. The contract starts in the second quarter of 2019.

Furthermore, two 2014-built PSVs, Sea Spear and Sea Supra, have been fixed to an undisclosed client for three months firm each, plus options, with beginning in 2Q 2019.

The Sea Spear has been contracted to Saipem in the Mediterranean with the beginning set for February 2019 for a period of 45 days firm plus options.

In addition, Solstad has entered into a new contract for the 2009-built AHTS Far Sagaris with Queiroz Galvão Exploração e Produção S.A (QGEP) in Brazil. This new charter contract is firm for 95 days with 180 days option, starting in February 2019 and it is in direct continuation with current charter of Far Sagaris.

As previously announced, AHTS Normand Pioneer has replaced Far Sagaris at its previous charter contract with QGEP, that is firm up to 1Q 2021.

Far Sagaris will keep supporting production activities at the Atlanta Field in Santos Basin.

Solstad said that the latest awards contribute positively to its fleet contract backlog at rates that reflect a gradually improving market.