AMSC increased its dividend for the third quarter.
Chief executive Pal Lothe Magnussen said in the report: “We are pleased to increase our quarterly dividends to NOK 0.60 per share on the back of Solstad Maritime initiating its quarterly dividends.”
AMSC paid out a dividend of NOK 0.55 per share for the second quarter.
In the third quarter, the Oslo-listed maritime investment company acquired an additional 980,000 shares in Solstad Maritime Holding.
The Kjell Inge Rokke-backed firm also recognised a share of profit of NOK 156.4m ($14.2m) relating to the investment in Solstad Maritime.
AMSC expects to receive NOK 45.7m in dividends from Solstad Maritime during the fourth quarter.
The oil services and renewable energy markets continue to show strong market fundamentals in regions and for asset classes to which Solstad Maritime is exposed, according to the report.
Magnussen said: “The outlook for offshore energy activities continues to look positive with strong global E&P [exploration and production] spending in combination with increased activity within offshore wind.”
Increased E&P capital expenditure from oil companies, combined with government-backed offshore wind developments, provides visibility of demand, even though scheduling risk remains and some projects may be delayed or postponed, the report said.
The project backlog reported by the large offshore engineering, procurement and construction contractors testifies to the strong sector momentum, AMSC added.
The company is exposed to a fleet of construction service vessels and anchor-handling tug supply vessels through its investment in Solstad Maritime.
