Offshore shipping company reaps rewards from aquaculture

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Norway’s largest offshore shipping company, Solstad Offshore, received contracts worth EUR 272.8 million in salmon farming contracts.

The supply company, Solstad Offshore, owns 50 percent of the wellboat shipping company DESS Aquaculture Shipping. About one-eighth of the offshore shipping company’s contract portfolio is now linked to aquaculture.

DESS operates and manages vessels for Marine Harvest.

EUR 115.4 million
During the fourth quarter of 2018 alone, the company landed aquaculture agreements for EUR 115.4 million, according to Solstad’s presentation material for the third quarter, which was published on Wednesday morning.

Of the total backlog, accumulated contracts for work to be carried out, EUR 272.2 mill was related to aquaculture. Solstad’s share is 50 percent of this sum.

DESS Aquaculture Shipping has a harvest vessel “Aqua Merdø” in operation, as well as six wellboats and a further more under construction.

“Aqua Merdø”

DESS Aquaculture Shipping is waiting for its second vessel to be delivered during the fourth quarter.

Growing market
“The company actively promotes orders in a growing market,” wrote Solstad Offshore on the aquaculture business in its quarterly report.

In total, the shipping company based in the North Sea port Skudeneshavn, has 141 vessels. However, within its core business of supply, anchorhandler and subsea ships, Solstad has not ordered a single new ship.