Solstad Offshore

Solstad Offshore (OSE: SOFF) is a Norwegian offshore service and supply ship shipping company that operates 26 vessels with 6 newbuilding contracts, including 9 construction service vessels, 14 anchor handling tug supply vessels and 5 platform supply vessels. The company is based in Karmøy, but also has offices in Aberdeen and Singapore.

History

The company was foudned as Solstad Rederi by Johannes Solstad in 1964, in a town called Skudeneshavn, on the island of Karmøy, where it is still headquartered to this day. It started off with ten bulk carriers in the range of 7,000 metric tons deadweight (DWT) to 14,000 DWT, but entered the offshore supply sector in 1973 with the delivery of four supply ships. By 1982 the entire dry bulk fleet had been sold and Solstad continued as a pure offshore vessel operator, though from 1989 to 1998 it operates five handysize bulk carriers. A fleet renewal program started in 1996 increased the fleet size from 12 to 43 by 2007. The same year it was floated on the Oslo Stock Exchange, though the Solstad family retains a major ownership in the company.

Since its initial start in 1964, Solstad Offshore ASA now has become one of the biggest players of modern and advanced vessels for offshore service, with world wide activities and projects for many of the major oil companies. The company is also the major shareholder of Rem Offshore and owns 50% of the Singapore based shipping company NOR Offshore. Solstad Offshore ASA is a member of the Norwegian Shipowners Association (Rederiforbundet). As per 2008, the company employes about 1100 people, and has since 2005 been the shipping company with most Norwegian crew sailing in international trade.