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Solstad Maritime is making significant moves in its fleet management by divesting a pair of idle anchor-handling tug supply vessels. The company has successfully sold the 'Far Sound' and 'Far Scimitar', bringing in an impressive net revenue of approximately $7 million. Both vessels had been inactive and laid up in Asia for several years, marking this sale as a strategic step towards optimizing their fleet operations. In a further effort to streamline their offerings, Solstad Maritime also parted ways with the 'Nor Spring' in November 2023, which generated around $4.8 million in net proceeds. The identity of the buyer remains undisclosed.

In a significant move within the Norwegian offshore support vessel (OSV) industry, Kristian Siem is set to take control of Farstad Shipping. This acquisition marks another chapter in the ongoing consolidation trends that have been reshaping the sector. According to the agreement, Farstad Shipping plans to issue a substantial minimum of 702 million ordinary shares, aiming for a total subscription value of at least NKr1 billion (approximately $117 million). The shares will be offered at approximately NKr1.4245 each. Siem will underwrite the entire NKr1 billion cash issue while also securing a minimum allocation of new shares to ensure he maintains a controlling stake of 50.1% in Farstad following the restructuring process. Importantly, the company's headquarters will continue to be based in Ålesund. Over the past 18 months, Siem has solidified his position as one of the foremost consolidators in Norway's offshore sector, making this acquisition a key development for the industry.