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Solstad reduces deficit and is cautiously optimistic about 2021

Troubled offshore carrier Solstad exits the first quarter of 2021 with a notably reduced deficit and cautious optimism following growth in oil, gas and wind activities for the rest of the year.

Photo: Solstad Offshore

Solstad sees a mild increase in oil and gas activities, which has helped to reduce its deficit in the first months of 2021.

The Norwegian offshore carrier reports a net deficit of NOK 310.3 million (USD 37.2 million), a notable improvement in light of the NOK 2.2 billion deficit in the first three months of 2019, according to Solstad's interim report.

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