Arbitration regarding a disputed 2024 charter involving the largest ship in the Solstad Offshore fleet has been resolved in favor of the Norwegian offshore vessel owner, the company reported.
Solstad said yesterday, May 14, that arbitration proceedings relating to the disputed 2024 chartering of the Construction Support Vessel (CSV) Normand Maximus have concluded in its favour.
As a result of this ruling, Solstad will receive approximately $13 million in rent, in addition to an interest award award of approximately $1.5 million.
“The ruling has a positive impact on liquidity of approximately US$14.5 million that the company will receive. There will be a positive impact on the profit and loss in the company’s accounts of approximately US$7.5 million in the second quarter of 2026,” The company said in its announcement.
Norman Maximus It is 178 meters long and can accommodate 180 people. It features a 900-tonne AHC crane and a 550-tonne VLS crane and is said to be the largest vessel in the Solstad fleet.
CSV 2016 was created earlier this month Obtained a Letter of Intent (LoI) With what Solstad says is an international subsea contractor. The contract will start in the first quarter of 2027, for a fixed period until the first quarter of 2029, and also includes the option of a possible extension until the first quarter of 2030.
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