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Solstad CEO wants banks to take charge of consolidation

The CEO of Norway's Solstad calls on banks to take more charge of the consolidation among offshore ship operators. Without consolidation, not even rising rates will resolve the companies' woes, he says.

Photo: Solstad Offshore

The chief executive of one of the world's largest offshore shipping companies, Solstad, calls on banks to take charge of a consolidation among the offshore ship operators, he says in relation to Solstad's fourth quarter interim report.

"Further consolidation and recycling of vessels are needed. An active involvement from the main banks is essential to make this happen," says Solstad CEO Lars Peder Solstad.

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