‘Real work starts now’: Lars Peder Solstad

Lars Peder Solstad, the head of the newly combined fleets of Norwegian OSV firms Solstad, Farstad and Deep Sea Supply, has stressed the hard work starts today to ensure synergies are realised. Overnight the three companies merged to create Solstad Farstad, an OSV giant with 152 ships.

The new CEO of Solstad Farstad said in a release today: “Now, the real work starts as we need to extract the cost and revenue synergies identified.”

The nation’s biggest maritime magnates first announced this dramatic merger in February this year.

Aker tycoon Kjell Inge Røkke and John Fredriksen agreed a restructuring plan of beleaguered Farstad Shipping as well as inking plans to merge their own OSV entities with Farstad to create one of the biggest fleets in the sector with Røkke’s Solstad as the lead stakeholder.

The new merged entity is headquartered out of Skudeneshavn to the northwest of Stavenger.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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