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Solstad must confirm value of its ships today

Wednesday is the deadline for Solstad Offshore to respond to requests from FSA Norway to reexamine the value of its ships. The body believes the carrier may have violated accounting rules.

Today, Wednesday, Norway's biggest offshore carrier Solstad Offshore must confirm the value of its 140 vessel fleet. Before Christmas, Norway's Financial Supervisory Authority (FSA) sent the carrier a letter instructing it to reexamine the value of its vessels, writes Sysla.

It is evident from the letter that the watchdog has reviewed "some accounting aspects of Solstad Offshore's financial reporting," and that the carrier, according to the watchdog's assessment, does not comply with accounting rules in its third quarter report.

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