ShippingWatch

Creditors sell out of shares in strained Solstad

Several creditors have, according to Finansavisen, been divesting shares in offshore ship operator Solstad, which recently settled a restructuring plan. John Fredriksen's shipowning unit and a Norwegian bank have sold shares.

Photo: Solstad Offshore

Offshore ship operator Solstad has in recent weeks seen some of its lenders offload shares in the company, reports Finansavisen.

The Norwegian media writes that John Fredriksen's shipowning unit SFL Corp has sold a third of its shares in the shipping company, so that it with a 4.20 percent stake is no longer a major shareholder. The restructuring of the shipping company made SFL Corp the fifth-largest shareholder in Solstad.

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