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    Solstad wins LOI from Saipem

    News // December 20, 2002
    Solstad Offshore ASA has signed a Letter of Intent with Saipem for the charter of four pipe carrying supply vessels, says Offshore Shipbrokers.

    The vessels will be used for pipe transport on various projects, but mainly in the Mediterranean.

    Commencement of the contract is 2nd quarter 2003 and the firm period is for 870 vessel days.

    Solstad plans to use the Normand Carrier and Normand Flipper from its own fleet forapproximately 520 days, while the remaining days will be covered through chartering the Edda Frende and Edda Freya.

    The total contract value for the firm period of the contract is approximately Euro 13.5 million.

    In addition, the charterer has option to keep the vessels for a further 950 days.

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