Norwegian Billionaires Head for Showdown With Supply Creditors

By Mikael Holter (Bloomberg) -- Billionaires Kjell Inge Rokke and John Fredriksen used the oil-market downturn to force a series of mergers on Norway’s struggling offshore supply industry. Now, they’re heading for a final showdown with creditors. Solstad Offshore ASA, the company resulting from deals orchestrated by Rokke and Fredriksen, said on Monday it would start … [Read more...]

Solstad Farstad Sells 2010-Built AHTS to DOF

Offshore service vessel giant Solstad Farstad has sold off its first vessel since its formation last month following the mega-merger of three leading OSV companies in Norway. The vessel, the 2010-built Far Shogun, an anchor handling tug (AHTS), was sold by Farstad Supply AS, a wholly owned subsidiary of Solstad Farstad ASA, to a DOF Group. Delivery of the vessel to its new … [Read more...]