Lars Peder Solstad is unfazed by a return of construction support vessel newbuildings.
The Solstad Offshore chief executive said it is “quite natural” to see owners ordering new ships given the strong state of the market.
“There are a handful or a bit more under construction right now,” he said. “I don’t see that as a threat to the market balance.
“Also, keep in mind that a majority of vessels under construction are also quite small, with 150-tonne cranes.
“It’s quite natural, but nothing that worries me.”
In February, fellow Norwegian company Eidesvik Offshore teamed up with Agalas to build at least one CSV at Sefine Shipyard in Turkey, while John Fredriksen’s Seatankers company has been connected to four others.
Overall, the offshore vessel market is significantly under-supplied.
Statistics from Clarksons show the orderbook at its lowest level since 2005, while some estimates have the sector under-supplied by several hundred ships.
The lack of vessels has pushed rates up, helping owners to a profit following a decade-long downturn that hobbled the sector.
For the quarter, Oslo-listed Solstad Offshore and privately-held Solstad Maritime teamed up for a NOK 623m ($57.6m) profit.
Solstad Offshore, which owns eight vessels, contributed NOK 189m and Solstad Maritime, which as 33 ships, added NOK 434m.
The two companies split following Kjell Inge Rokke’s $875m refinancing deal.
The two companies share certain major shareholders and market their vessels together under the Solstad brand.
