Norway’s Solstad Offshore has offloaded another six unwanted vessels to complete its non-core asset sale programme.

The Oslo-listed owner has now disposed of 36 ships since its $2bn refinancing in 2020.

The Lars Peder Solstad-led company will now focus on operations with a slimmed-down 90-vessel fleet.

Solstad said four platform supply vessels (PSVs) have gone.

The ships are the 3,300-dwt Normand Trym (built 2006), the 3,400-dwt Normand Vibran, the 3,600-dwt Sea Trout (both built 2008) and the 4,800-dwt Rem Supplier (built 2011).

Buyers and prices are not yet known, but VesselsValue rates the quartet as worth about $17m in total.

Two anchor-handling tug supply (AHTS) vessels have also been sold: the 20,000-bhp Normand Ivan (built 2002) and 19,203-bhp Far Santana (built 2000).

These vessels are worth $8.4m and $5.2m respectively, according to VesselsValue.

Delivery took place this week, Solstad said.

The accounting effect will be "immaterial", the company added.

Debt reduced

The disposal of the 36 ships has cut debt by NOK 900m ($102.3m).

The 90 vessels remaining consist of subsea ships as well as PSVs and AHTS units.

The group has not bought a vessel since 2012.

The net loss in the fourth quarter was NOK 402.1m, down from a profit of NOK 11.4bn the year before, a figure boosted by financial gains from the $2bn debt restructuring.

Revenue increased by 11% to NOK 1.3bn

The shipowner signed new contracts worth NOK 2bn in the period.

The full-year loss was NOK 1.1bn, against a profit of NOK 7.2bn in 2020.