With another ship sale out of the way, Solstad sells vessels like hot cakes while other players snap them up

Solstad Rederi, a subsidiary of the Norwegian offshore vessel owner Solstad Offshore, has sold an anchor handling tug supply (AHTS) vessel to a buyer, whose identity has not been revealed.

AHTS Elang Laut 1; Source: Solstad Offshore

Solstad Offshore reported on Monday that it had sold the AHTS Elang Laut 1 to an undisclosed buyer, who took delivery of the vessel on 3 July 2023.

According to the Norwegian player, the vessel has been in a lay-up in Asia since 2019 and the sale of the vessel will result in “an immaterial accounting effect.”

Solstad Offshore has embarked on a restructuring mission, thus, the firm agreed to sell its platform supply vessel (PSV) fleet in March 2023 to Tidewater for a total cash consideration of approximately $577 million. This marks an exit from the PSV segment.

A few days later, the firm also sold the AHTS Far Sabre. On the other hand, the Norwegian vessel owner is also winning new deals, as confirmed by a letter of intent (LOI) from May 2023 with a subsea contractor for the charter of the largest vessel in the firm’s fleet.