Solstad sells 50 per cent of Normand OceanicVessel & ROV News // April 2, 2012
Solstad Offshore has entered into an agreement with Subsea 7 International Contracting Limited whereby Subsea 7 will aquire 50 per cent of the CSV Normand Oceanic through purchase of shares in a single purpose company.
Normand Oceanic was delivered to Solstad Offshore in April 2011 and commenced a charter party with Subsea 7 in March 2012.
It has also been agreed that the duration of the firm charter period will be extended from three years to five, on the same commercial terms as in the current charter party.
It is intended to complete the transaction by the end of the second quarter of 2012.