Norwegian owner and operator of offshore vessels Solstad Offshore has started negotiations with lenders to improve the overall liquidity situation prior to the North Sea winter season.
According to the company, the winter season is expected to be challenging for the company’s liquidity position.
Solstad Farstad has therefore decided to begin negotiations with lenders and other stakeholders to improve the overall liquidity situation and to create a robust long-term platform for the company.
Initiating these negotiations will have no impact for operations, customers, employees or suppliers, the company noted.
The company has appointed financial and legal advisors.
Solstad Offshore changed its name at the beginning of October from previously known Solstad Farstad, jointly formed by Solstad Offshore, Farstad Shipping and Deep Sea Supply last year.