Solstad Offshore to Acquire Normand Maximus CSV for $125M in 2027

Solstad Offshore has exercised an option to purchase the construction support vessel (CSV) Normand Maximus for $125 million, with the transaction scheduled for completion in October 2027. The acquisition is part of a strategic move by Solstad to consolidate its fleet and enhance its operational capabilities within the subsea construction sector.

Purchase Details and Financing

The purchase option was declared on October 6, 2026, under a bareboat charter agreement signed with Maximus Shipping in October 2022. Under this agreement, Normand Maximus had the right to acquire the vessel after five years of chartering, subject to 12 months' advance notice. The acquisition is intended to be completed when Maximus Shipping delivers the vessel to Normand Maximus in October 2027.

Solstad Offshore plans to finance the $125 million purchase price through external debt financing. This strategic move underscores Solstad's commitment to expanding its operational reach and leveraging existing assets to support future projects.

Vessel Specifications

The Normand Maximus is a 178-meter CSV, which will be the largest vessel in Solstad's fleet upon acquisition. Key features of the vessel include:

• A 900-tonne active heave-compensated crane for heavy lifting operations
• A 550-tonne vertical lay system for efficient installation of subsea equipment
• Accommodation for up to 180 people, providing a comfortable living environment for crew members during extended operations

Operational Impact and Future Plans

The acquisition of Normand Maximus will significantly enhance Solstad's operational capabilities in subsea construction. The vessel is equipped with state-of-the-art technology that allows it to perform a wide range of tasks, including deepwater construction, laying pipelines, and installing offshore structures.

According to Solstad Offshore, the vessel has been chartered for various projects since its delivery in 2016. The company plans to use Normand Maximus in upcoming projects around the world, where it will play a crucial role in supporting subsea operations. This strategic move also reflects Solstad's long-term commitment to growing its presence in the offshore energy sector.

What this means for operators

The acquisition of Normand Maximus by Solstad Offshore will have several practical implications for ship operators:

• Enhanced Fleet Capabilities: The addition of a state-of-the-art CSV to the fleet will provide Solstad with greater flexibility and capacity in handling complex subsea projects.
• Increased Operational Reach: With Normand Maximus, Solstad can now support operations in deeper waters, expanding its operational reach globally.
• Strategic Positioning: The acquisition aligns with Solstad's long-term strategy to strengthen its position as a leading provider of subsea construction services in the offshore energy market.

The transaction is expected to solidify Solstad Offshore's leadership in the subsea construction sector and provide it with the necessary resources to take on larger and more complex projects. This strategic move could also have implications for other operators, as they may look to upgrade or expand their fleets to stay competitive.