20-year-old Solstad PSV finds new owner

Solstad Rederi, a wholly owned subsidiary of Norwegian shipping company Solstad Offshore, has sold one of its platform supply vessels (PSVs).

Source: Solstad Offshore

The new owner, whose name Solstad did not disclose, took over the 88.8-meter-long PSV Normand Flipper on 9 February.

The vessel was built in 2003 and is of UT 745 E design.

According to the company, the sale will result in a positive accounting effect to be reflected in the first quarter of 2023.

Solstad did not reveal any other information about the buyer, the transaction, or what industry the vessel will be serving.

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Solstad recently announced that it had achieved an “incredible” emission reduction and fuel-saving milestone with one of its PSVs. 2013-built Normand Leader saved 29 per cent of emissions and fuel consumption compared to a normal transit and only minor vessel speed alternations.

Historical data was used to determine optimal transit speed, and the crew on board used several measures to reduce fuel consumption, including optimization of trim and draft, autopilot settings, stopping unnecessary auxiliary equipment, and reducing the number of engines adequately to the sea conditions.

In terms of vessel sales, at the end of 2022, Normand Ships, another Solstad company, sold the construction support vessel (CSV) Normand Jarl to a buyer outside of the offshore industry.