Deep Sea Supply, Farstad and Solstad set to complete mega merger

The consolidation of Norwegian OSV giants Deep Sea Supply, Farstad Shipping and Solstad Shipping is expected to be completed during the first half of 2017.

According to an announcement made by the companies, the proposal for the merger is being finalised and each board of directors shall resolve on the merger proposal and the statutory merger plan by the end of March.

Amid the challenging market situation in the OSV sector, the three companies reached consensus in February on a restructuring plan, which would create one of the offshore fleets with Solstad Shipping as the lead stakeholder. The new company will be called Solstad Farstad.

A successful completion of the combination would create the largest company in the high-end global OSV sector with a fleet of 154 vessels.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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