Solstad Offshore ASA (SOFF.OL)
27 Sep 2016
Fri, Aug 26 2016
* Oil services firm Solstad Offshore, which has a fleet of 44 wholly owned or partly owned vessels, reports a drop in operating profit to NOK 98 million in Q2 compared to NOK 219 million a year ago
* Holding company Aker, the main owner of oil company Det norske, offshore supply firm Solstad Offshore and shipping firm Ocean Yield among others, says Rem Offshore needs to participate in the consolidation of the industry
* Investment firm Aker targets 12 pct investment return target per year over the cycle, it said in presentation material at its capital market day
* Says has, together with Aker ASA and with indicative support from its lending banks and bondholders, developed a plan to strengthen the Company's balance sheet
OSLO, May 10 Shipping firm Solstad Offshore , which provides service and construction vessels to the oil industry, aims to secure a deal to ease its debt covenants by the end of the second quarter, the company said on Tuesday.