Solstad Shipping AS

What Solstad Shipping AS does

Solstad Shipping AS is a Norwegian offshore vessel owner headquartered in Skudeneshavn that operates as an umbrella holding company comprising two publicly listed shipowning subsidiaries: Solstad Offshore ASA (ticker: SOFF, Euronext) and Solstad Maritime ASA (ticker: SOMA, Euronext). Each entity has distinct ownership structures, but the group shares a common management function, with ship management services provided bilaterally between the two companies. Together the group operates a specialized fleet of Construction Support Vessels (CSVs), installation vessels, and deepwater construction tonnage designed for the global offshore energy market, including oil and gas operators and offshore construction contractors. The portfolio is extended by Solstad Services (vessel management and operational support), Remota (remote operations and monitoring services for offshore vessels), and Windstaller Alliance (specialized offshore wind farm installation services), positioning the group across both traditional hydrocarbons and adjacent offshore wind verticals.

The group's commercial model is B2B vessel time chartering, with revenue generated from contracting vessels directly to offshore energy companies on bespoke multi-year firm charters that often include option extensions (e.g., 3 years firm + 3 years options). Recent contract activity includes a 1-year extension of CSV Normand Vision with Ocean Installer AS (through end of 2028) and a Letter of Intent for CSV Normand Cutter (3-year firm + 3-year options). Beyond chartering, the group has committed to a major capacity buildout via a strategic partnership with SBM Offshore to order a new-build multi-purpose deepwater installation and construction vessel (targeted delivery H1 2029), with the shipbuilding contract subsequently signed with CIMC Raffles.

Solstad generates cash distributions to shareholders through its two listed subsidiaries; Solstad Offshore ASA and Solstad Maritime ASA have both declared quarterly cash dividends in 2026, with Q2 2026 distributions of approximately USD 12.4 million and USD 46.5 million respectively, reflecting sustained operating cash generation across the fleet. The company's sustainability program dates back over a decade, framing operations around "Safe, Reliable, Competent, and Responsible" delivery to the global offshore energy market.

Name

Solstad Shipping AS

Legal name

Solstad Shipping AS

Website

https://solstad.no

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Solstad Shipping AS is a Norwegian offshore vessel owner operating through two Euronext-listed subsidiaries (Solstad Offshore ASA and Solstad Maritime ASA), providing construction support, installation, and deepwater construction vessels to global offshore energy companies via long-term B2B time charters.

Ownership category

akta.pro rank

Product category

Offshore Vessel Chartering and Maritime Services

NAICS

Water Transportation (483), Ship Building and Repairing (336611), Support Activities for Water Transportation (4883)

SIC

Water Transportation (4400), Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters) (EUALABAJ)

akta.pro secondary industries

Offshore Support & Marine Logistics Vessel Operators (PSV/AHTS) (TLADABAL), Offshore Wind & Renewable Support Vessel Construction (SOV, CTV, WTIV) (IMAJACAG)

Keywords

• Offshore vessel chartering
• Construction support vessels
• Offshore energy services
• Subsea installation services
• Wind farm installation

Headquarters

HQ city

Skudeneshavn

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure

Revenue model

1. Vessel Chartering: Revenue generated from chartering offshore support vessels to energy companies on time charter basis. Contracts include firm periods plus option extensions. The company also operates in the spot market for shorter-term charter opportunities.
2. Dividend Distribution: Solstad Offshore ASA and Solstad Maritime ASA distribute cash dividends to shareholders from operating profits, with recent distributions of USD 0.10-0.15 per share per quarter.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Solstad Shipping AS is a Norwegian maritime group that owns and operates specialized offshore vessels for the global offshore energy market. The company operates through two main shipowning structures—Solstad Offshore ASA and Solstad Maritime ASA—offering construction support vessels (CSVs), deepwater installation and construction vessels on time charter and spot market basis to offshore energy companies. It also delivers adjacent services including vessel management, remote operations monitoring, and wind farm installation support.

Product overview

Solstad Shipping AS operates as a maritime company consisting of two main shipowning structures: Solstad Offshore ASA and Solstad Maritime ASA, each with different owner structures but shared management functions. Solstad Offshore ASA manages a fleet serving the offshore energy market, while Solstad Maritime ASA focuses on construction support vessels (CSV) for subsea and installation work. The portfolio also includes Solstad Services, Remota (remote operations), and Windstaller Alliance (wind farm installation services), delivering comprehensive solutions to the global offshore energy sector.

Differentiator

Problem solved

Functional benefit

Brands

• Remota: Remote operations services
• Windstaller Alliance

Products and services

• Solstad Offshore ASA Fleet Fleet of offshore vessels operated by Solstad Offshore ASA, providing construction, installation, and support services to the global offshore energy market on charter and spot basis.
• Solstad Maritime ASA Fleet Fleet of construction support vessels (CSVs) operated by Solstad Maritime ASA, providing installation and subsea services to offshore energy clients via time charter contracts.
• Solstad Services Full-scope vessel management and operational support services delivered to clients, leveraging shared ship management functions between Solstad Offshore ASA and Solstad Maritime ASA.
• Remota Remote operations and monitoring services for offshore vessels, providing onshore-based operational support and surveillance for offshore fleet activities.
• Windstaller Alliance Specialized offshore wind farm installation services and vessel solutions, supporting the deployment of offshore wind energy infrastructure.

Named customers2 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• Ocean Installer AScoreChannel Partner/ Reseller/ Distributor · 7 July 2026Contract extension for CSV Normand Vision with Ocean Installer AS, securing operations through end of 2028 in direct continuation of current agreement. Also Letter of Intent for CSV Normand Cutter with 3-year firm contract plus 3-year options.
• SBM OffshorecoreStrategic or Co-development Partner · 1 June 2026Solstad Offshore ASA and SBM Offshore have agreed to order a new-build multi-purpose deepwater installation and construction vessel, with targeted delivery in the first half of 2029. This is a strategic partnership for developing next-generation offshore installation capabilities.
• CIMC RafflescoreStrategic or Co-development PartnerShipbuilding contract signed with CIMC Raffles for a recently announced newbuild vessel. This represents a strategic shipbuilding partnership for vessel newbuilds.

Scale indicators3 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Vroon: Dutch offshore and shipping company operating PSVs, AHTS vessels, and specialized offshore vessels globally; comparable in offshore vessel operations and direct chartering to energy clients.
• Swire Pacific Offshore: Asia-Pacific headquartered offshore vessel operator with PSVs, AHTS vessels, and subsea support vessels; comparable in providing offshore marine support to the global oil & gas and renewables sectors.
• Bourbon (offshore): French offshore vessel operator providing marine logistics, subsea, and crew transport services to oil & gas; comparable in core offshore support vessel business and customer profile.
• Havila Shipping: Norwegian offshore vessel owner operating PSVs, AHTS vessels, and subsea construction vessels; directly comparable Norwegian peer with similar customer profile and vessel types serving the North Sea offshore market.
• Siem Offshore: Norwegian-headquartered offshore vessel owner operating CSVs, anchor handlers, and subsea construction vessels, primarily serving oil & gas and offshore wind; highly comparable business model with long-duration time charters and global operations.
• Maersk Supply Service: Danish offshore vessel operator providing anchor handling, subsea construction, and offshore wind installation services; comparable diversified offshore service portfolio and similar customer base of energy majors.
• DOF Group: Norwegian offshore vessel operator with a global fleet of subsea construction, anchor handling, and offshore support vessels serving oil & gas and renewables; directly comparable in fleet composition, customer base, and Norwegian ownership heritage.
• Edison Chouest Offshore: US-based offshore vessel operator with a large, diversified fleet of offshore support vessels including PSVs, crew boats, and subsea construction vessels; comparable in scale and global service offering to offshore energy clients.
• Tidewater Inc. One of the largest offshore vessel operators globally, providing PSVs, AHTS vessels, and crew boats to oil & gas majors; comparable in scale, geographic reach, and chartering model to Solstad's offshore fleet.

Broad incumbents

• Subsea 7: Global offshore engineering, construction, and subsea services company that operates its own fleet of pipelay and heavy construction vessels; broader subsea contractor peer that consumes vessel capacity similar to what Solstad provides to clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/solstad-shipping-as

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Solstad Shipping AS