Solstad Offshore Sells Far Swan PSV

Bartolomej Tomic
Tuesday, November 16, 2021

Solstad Offshore, a Norwegian offshore vessel owner, said Tuesday it had sold the platform supply vessel Far Swan.

The company, which last year said it would trim its fleet to make it more competitive, with a plan to divest 37 vessels "over a period of time," said  it had delivered the Far Swan to the new owner on November 16th, 2021.

"The sale of the vessel will result in an immaterial accounting effect for Q4 2021," Solstad Offshore said. The vessel was sold by Solstad Offshore's subsidiary Farstad Shipping. 

As with the other recent divestments, Solstad did not disclose the sale price for the 2006-built platform supply, nor the identity of the buyer.

VesselsValue estimates the market value of the vessel at around $2,97 million, and demoliotion value - the amount for which the vessel could be sold for scrap - at $1,22 million. According to VesselsValue data, the vessel last worked for Halul Offshore, and is currently moored in Dubai.

This is the third sale announced by Solstad this month, after previously announcing the sales of the Rem Provider platform supply vessel and the Far Saga construction support vessel.

Solstad's aim is to reduce fleet size to a level of 80-90 vessels. Some vessels are sold for recycling, some for non-oil & gas activity, and some for geographical areas where the company has limited access.


Categories: Offshore Energy Vessels Middle East Activity Europe

Related Stories

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Turkey Discovers New Black Sea Gas Reserve

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

Borr Drilling Bags Three New Assignments for its Jack-Up Drilling Rigs

Woodside to Shed Some Trinidad and Tobago Assets for $206M

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

MODEC Gets Shell’s Gato do Mato FPSO Ops and Maintenance Job

Current News

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com