Equities
SBM Offshore, Solstad Offshore to Order New Installation Vessel via JV
SBM Offshore's (SBMO.AS) joint venture with Solstad Offshore (SOFF.OL) entered into a letter of intent for the potential acquisition of a new deepwater installation and construction vessel.The vessel will be acquired from an unnamed shipyard, according to a Monday release. Based on the ownership structure of the joint venture, Dutch offshore floating production company SBM will own 49.9% of the new vessel, while Norwegian offshore shipping company Solstad will own the remaining 50.1% interest.The target delivery date for the new vessel is the first half of 2029. SBM said the vessel may be chartered to third parties when not in use for its installation projects.
$SBMO.AS$SOFF.OL
