What Solstad Maritime does

Solstad Maritime ASA is a Norwegian publicly listed offshore vessel owner (Euronext Oslo: SOMA; Frankfurt: O6O) that was established on January 16, 2024 as a separate shipowning entity from Solstad Offshore ASA. The company operates a fleet of 32 offshore vessels, including construction support vessels (CSV), anchor handling tug supply (AHTS) vessels, and subsea vessels, suitable for both oil & gas and renewable energy activity. Operations are concentrated in Brazil, the North Sea, Southeast Asia, Australia, Africa, and increasingly the Mediterranean and Black Sea, supported by eight regional offices and approximately 2,200 employees across 40 nationalities.

The core technology and service offering centers on time charter of vessels with full crew and operational support, augmented by the Solstad Services division which provides work-class ROVs, tooling, and survey services, and by Solstad Shipping AS which acts as the Document of Compliance holder for the fleet. Proprietary frameworks include the SIFO (Solstad Incident Free Operations) safety culture and the Solstad Green Operations sustainability program (operational since 2009). The company holds ISO 9001, 14001, 45001, and 50001 certifications and operates a multi-purpose deepwater installation vessel joint venture with SBM Offshore (50.1%/49.9%), with a newbuild ordered at CIMC Raffles in China for H1 2029 delivery.

Revenue is generated principally through long-term time charter contracts with energy companies and subsea contractors (subscription-like recurring day-rate revenue), supplemented by professional services revenue from ROV/survey work and managed services revenue from third-party vessel management (including REV Ocean). GTM is sales-led and relationship-driven, with direct charter negotiations yielding multi-year contracts; Q1 2026 operating income reached $86 million (+24.6% YoY), backlog stands at $306 million (up from $190 million), cash holdings are $77 million (+48% YoY), and the company announced a doubled dividend (USD 0.10/share) with 2026 operational adjusted EBITDA guided at $50–70 million.

Name

Solstad Maritime

Legal name

Solstad Maritime ASA

Website

https://solstad.com

Company type

Public

Founded year

2024

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Offshore Vessel Chartering & Subsea Services

NAICS

Support Activities for Water Transportation (4883)

SIC

Oil & Gas Field Services, Nec (1389), Water Transportation (4400)

akta.pro primary industry

Offshore Support & Marine Logistics Vessel Operators (PSV/AHTS) (TLADABAL)

akta.pro secondary industries

Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters) (EUALABAJ), Subsea Construction & IMR Vessel Newbuilds (CSV, DSV, ROV Support) (IMAJACAD)

Keywords

• Offshore vessel chartering
• Construction support vessels
• Subsea ROV services
• Offshore energy logistics
• Ship management services

Headquarters

HQ city

Norwegen

HQ country

Germany

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Vessel Charter Services: Time charter of offshore construction support vessels (CSV) to energy companies for subsea operations, inspection, maintenance and repair (IMR), and light construction services. Revenue generated through day rates for vessel hire with crew.
2. ROV and Survey Services: Provision of work class ROVs, tooling and survey services through Solstad Services division
3. Vessel Management Services: Ship management services provided to other vessel owners including Document of Compliance (DoC) holder services through Solstad Shipping AS

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Solstad Maritime ASA owns and operates a fleet of 32 specialized offshore vessels (CSV, AHTS and subsea vessels) and charters them to international energy companies under multi-year time charter agreements. Through its Solstad Services division the company also provides work-class ROVs, tooling, and survey services, while Solstad Shipping AS delivers ship management services as Document of Compliance holder. The offering serves both oil & gas and offshore renewable energy customers globally.

Product overview

Solstad Maritime operates a fleet of 32 offshore vessels serving the global energy market, with a particular focus on Brazil, North Sea, South East Asia, Australia and Africa. The company operates two main shipowning structures alongside Solstad Offshore ASA. Its core offering centers on vessel chartering services including construction support vessels (CSV), AHTS, and subsea vessels for inspection, maintenance, repair (IMR) and light construction operations. Solstad Services provides ROVs, surveys, tooling and full manning services. The company maintains ship management capabilities through Solstad Shipping AS as Document of Compliance holder. Recent contracts include Mediterranean and Black Sea operations with Reach Subsea and long-term Brazil deployments with Petrobras.

Differentiator

Problem solved

Functional benefit

Products and services

• Solstad Maritime Fleet (CSV, AHTS and Subsea Vessels)

Quantifiable outcome

• Fleet utilization at 79% with backlog expansion to $306 million
• +2 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• CIMC RafflescoreOEM/ Whitelabel/ Licensing Partner · 22 June 2026Shipbuilding contract signed for newbuild vessel construction at CIMC Raffles Haiyang Construction Base in Shandong province, China. Partnership with SBM Offshore for next-generation installation vessel with targeted delivery in first half of 2029.
• SBM OffshorecoreStrategic or Co-development Partner · 1 June 2026Joint venture with 50.1% Solstad Offshore / 49.9% SBM Offshore ownership for new multi-purpose deepwater installation vessel. Initial 14-year charter agreement with minimum 270 days/year utilization. Builds on operational success of CSV Normand Installer partnership since 2006. Existing frame agreement extended to 2034.
• Reach SubseacoreChannel Partner/ Reseller/ Distributor · 26 May 2026Charter agreement for vessel Normand Jarstein to support Reach Subsea's IMR and light construction services contract in Black Sea region. Vessel currently mobilizing in Black Sea. Multi-year contract strengthening Reach Subsea's Mediterranean and Black Sea presence.
• Global Marine GroupminorOthers · 12 December 2025Sale of vessel CSV Normand Clipper to Global Marine Group with delivery scheduled for June 2026. Expected recognized gain of approximately USD 10 million in Q2 2026 earnings.
• REV OceanminorStrategic or Co-development PartnerAgreement to take over ship management of REV Ocean, a research and expedition vessel equipped with advanced facilities for cutting-edge ocean science.

Scale indicators10 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Tidewater Inc. One of the largest offshore vessel operators globally with a fleet serving the offshore energy industry. Direct competitor in OSV space with similar charter-based revenue model.
• Maersk Supply Service: Danish offshore vessel operator providing anchor handling, subsea, and IMR services to offshore energy companies. Comparable global OSV fleet with similar customer profile.
• DOF Group ASA: Norwegian offshore vessel operator providing subsea IMR, construction, and AHTS services globally. Directly comparable business model and customer base in offshore energy support.
• Bourbon Corporation: French offshore vessel operator providing marine services to oil & gas clients worldwide. Direct competitor in OSV charter segment with similar vessel types and customer base.
• Vroon Offshore: Dutch offshore vessel operator providing subsea support, IMR, and platform supply services. Comparable fleet profile and energy industry customer base.
• Siem Offshore ASA: Norwegian offshore vessel operator specializing in AHTS, PSV, and subsea construction vessels. Similar business focus and customer segments in offshore energy support.
• Hornbeck Offshore Services: US-based offshore vessel operator providing OSVs to oil & gas customers primarily in Gulf of Mexico. Comparable OSV charter model and offshore energy focus.
• Edison Chouest Offshore: Privately held US-based offshore vessel operator with global fleet serving oil & gas and renewable energy clients. Direct competitor in offshore support vessel charter market.
• Solstad Offshore ASA: Sister company under shared Solstad group management, also operating offshore vessels for energy clients. Provides the most direct comparison given overlapping fleet, customer base, and management functions.

Emerging players

• DeepOcean Group: Subsea services provider operating IMR, installation, and trenching vessels. Comparable in subsea services offering and offshore energy customer focus, though services-led rather than pure OSV charter.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/solstadoffshoreasa

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

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 Maritime