Offshore Support Vessels in High Demand as Solstad Secures New Deals, Extensions

©Solstad Offshore
©Solstad Offshore

Norwegian offshore support vessel owner Solstad Offshore said Monday it had secured multiple new contracts and contract extensions.

The contracts and extensions are for various platform supply vessels and anchor handling tug supply vessels.

"The contracts have a combined firm duration of approximately 10 vessel years and will support various clients in the global markets. The contracts will be executed by 14 of the company's PSVs and AHTS vessels and have a value of approximately NOK 830 million [~81,8 million]," Solstad Offshore said.

“These new contracts reflect a continued strong market for offshore support vessels. In general, we see that commercial rates continue to improve and clients are prepared to commit to longer contracts than what we have experienced in recent years,” says Kenneth Lande, EVP Global AHTS & PSV of Solstad.

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