Solstad Offshore, the Norwegian owner of marine vessels, has activated the purchase option for the tanker Normand Maximus, which was built in 2016. This decision follows a lease agreement that was signed on October 7, 2022, between a subsidiary of Solstad Offshore and the owner of the tanker, Maximus Shipping.
Lease Agreement Details
According to the lease agreement, Solstad Offshore had the option to purchase the tanker Normand Maximus after five years of leasing. In this agreement, the purchase decision had to be announced at least 12 months prior to the scheduled date. Now that this option has been activated on Tuesday, the transfer of ownership of the tanker will take place in October 2027 for a price of $125 million.
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Financing the Purchase
Solstad Offshore has announced that it will finance the purchase of the tanker through external financing. This financing method allows the company to proceed with the purchase of the tanker without the need for direct investment from internal resources. This move also reflects the company's strategy for developing and expanding its fleet in the international market.
The tanker Normand Maximus will become part of Solstad Offshore's fleet, and the company hopes that by increasing its fleet capacity, it will have a better ability to meet market demands. This deal could have positive impacts on the financial and operational performance of the company in the coming years.
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