Solstad Offshore has inked two new charters for ships following the Aker Capital-backed refinancing of its fleet last week.
The Oslo-listed company said on Tuesday that the 78-loa construction support vessels Normand Valiant (built 2008) and 92-loa Normand Fortress (built 2006) would work in Brazil with Petrobras on deals worth NOK 750m ($71.5m).
Both ships are part of Solstad Maritime, created after the refinancing was completed.
The Normand Valiant had its contract extended by the Brazilian state-backed oil company for six months, running to mid-February 2025.
Solstad Offshore and Petrobras signed a two-year contract for the Normand Fortress, with the vessel slated to work in the Brazilian continental shelf beginning in the second quarter.
Solstad Maritime — in which Solstad Offshore has a 27% stake — controls 35 vessels, while Solstad Offshore retains ownership of eight.
Control of the company
The deal pitted two Norwegian tycoons — Kjell Inge Rokke and Christian Sveaas — against one another for control of the company.
Sveaas wanted to convene a shareholder meeting to sue Solstad Offshore insiders for agreeing to the deal, but Solstad Offshore argued there were no other available deals that kept shareholder assets largely intact.
Sveaas’ Kistefos argued it had made overtures to Solstad Offshore to offer other deals but in a letter published last week, Solstad Offshore said Kistefos only reached out twice, neither time on refinancing.
The deal left Rokke’s Aker Capital with a 57% stake in Solstad Maritime.
Early on Tuesday, Solstad Offshore shares were trading at NOK 37.80, up NOK 1.78.
