ShippingWatch

Solstad impairs its fleet value by almost NOK 1 billion

A delayed recovery in the supply market for offshore ship operator Solstad Offshore made the company book an impairment of close to NOK 1 billion. This gives the shipping company a massive deficit in the first half of the year.

Photo: PR/Solstad Offshore

A recovery in the strained offshore supply market has yet to emerge, and this makes Solstad Offshore impair the value of its fleet.

The Norwegian offshore ship operator has in the second quarter booked an impairment of NOK 960 million (USD 110.7 million), according to the interim report. The impairment comes after a "postponed market recovery," writes the company.

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