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Solstad impairs fleet by USD 99 million following warning

Solstad Offshore books a significant impairment on its fleet following scrutiny from Norway's FSA. The carrier warns of further impairments for the fourth quarter and is negotiating with creditors.

Photo: Solstad

Norway's biggest offshore carrier Solstad Offshore has now had another look at its financial accounts – and an expensive one at that.

Following scrutiny from Norway's Financial Supervisory Authority (FSA), the carrier has conducted an impairment test on its 140 vessel fleet, which was not included in the carrier's third quarter – according to the authority, the lacking impairment was a major deficiency.

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