Norwegian offshore vessel owner Solstad Offshore has won new contracts for four members of its fleet, encompassing three construction support vessels (CSVs) and one anchor handling tug supply (AHTS) vessel.
Normand Sentinel; Source: Solstad Offshore
While the clients’ names have not been disclosed, the Norwegian player has shared that the gross value of these contracts is approximately NOK 800 million (around $72.9 million), with a combined duration of around 600 days, including mobilization and demobilization. All four vessels are owned by Solstad Maritime, in which Solstad Offshore holds a 31.6% interest, following the refinancing completed in January.
Thanks to these deals, two vessels will work in Asia and two in West African waters. The 2010-built CSV Normand Baltic has won two contracts. The first relates to providing cable repair support on an offshore wind project in Asia. Set to begin in the second quarter of 2024, the contract will be in direct continuation of the present charter and will last a minimum of 70 days.
On the other hand, the second assignment is for walk-to-work and work-class remotely operated vehicle (WROV) services for another offshore wind project in Asia. The 150-day firm contract is expected to start in 1Q 2025. The CSV Normand Baltic, which is of STX 06 CD design and can accommodate 80 people, was previously hired for these services in October 2023.
Furthermore, another vessel has been booked for an offshore wind project in Asia. This refers to the CSV Normand Australis, which will provide installation support services, including WROV and survey services, for 90 days, starting in the second quarter of 2024. The 2009-built vessel is of Conan Wu design and can accommodate 118 people. Last October, it was booked by an undisclosed subsea contractor for a minimum of 150 days firm, with extension options.
The third vessel, the CSV Normand Sentinel, was chartered for subsea construction work in West Africa. The 190-day firm contract includes WROV and survey services and is set to commence in the second quarter of 2024. The 2015-built vessel is of Vard 3 07 design and can accommodate 130 people. In 2023, it returned to the UK after spending eight years on an assignment in Mexico with Subtec.
Last but not least, the fourth vessel in this contract batch is the AHTS Normand Prosper, bound to work on a floating production storage and offloading (FPSO) installation project in West Africa. Beginning in the second quarter of 2024, the project is slated to last 60 days. The 2010-built vessel is of AH 12 design and can accommodate 70 people. Last August, it secured an assignment in West Africa with Ocean Installer.
Solstad Offshore has been making efforts to cut down emissions from its 40-vessel fleet, which is why it recently entered into a memorandum of understanding (MoU) with Pon Power and Caterpillar Marine to improve fuel efficiency across its offshore support vessels (OSVs).
