Solstad Farstad starts off with huge loss

New major offshore carrier Solstad Farstad suffered a larger deficit than expected for the third quarter, which brought the first financial report from the new company. Solstad Farstad expects that the market will remain weak in the short term.

Lars Peder Solstad, CEO of Solstad Farstad. | Photo: PR-foto/Solstad Farstad

Solstad Farstad has released its first financial report after the company was established in the merger of the three carriers Solstad, Farstad, and Deep Sea Supply at the end of June this year.

According to Norwegian daily Dagens Næringsliv, the results came out worse than analysts had projected and the deficit is more than NOK 100 million (USD 12.3 million) for the third quarter.

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