Solstad to bank over $54 million from new vessel contracts

June 30, 2022, by Nadja Skopljak

Norwegian vessel owner Solstad Offshore has secured contract awards for its construction support vessels (CSVs) Normand Cutter and Normand Sentinel.

Normand Cutter has won a contract with an undisclosed client in South America for a firm charter period of 460 days with the possibility of a further 480-day extension.

The vessel will provide support including remotely operated vehicle (ROV) services for decommissioning activities in South America.

Commencement of the contract will take place in the fourth quarter of the year.

Furthermore, Subtec S.A has exercised its option to extend the contract for Normand Sentinel with one year firm and the contract is now firm until 31 December 2023 with one year option remaining.

Normand Sentinel will continue its operation in the Gulf of Mexico and where it has been on contract with Subtec S.A since 2015.

According to Solstad, the contracts have a combined gross value of approximately NOK 540 million (around $54.5 million).