Solstad Offshore has published its financial results for the first half of 2026.
Solstad posted operating income of US$105 million in the second quarter of 2026 (US$78 million in Q2 2025) and US$191 million in H1 2026 (US$147 million in H1 2025). The company's gross operating profit figures were US$41 million in Q2 2026 (US$32 million in Q2 2025) and US$75 million in H1 2026 (US$62 million in H1 2025).
The company also reported vessel utilisation of 82 per cent in H1 2026. This was lower compared to H1 2025 due to the lower utilisation on the vessels Normand Tonjer and Normand Topazio.
"Activity across our fleet has remained high throughout the period, and we reported a solid first half of 2026, supported by a relatively high utilisation on vessels in the Solstad Offshore fleet, robust operational performance, and contributions from our joint ventures and associates," said Lars Peder Solstad, CEO of Solstad Offshore.
Solstad also highlighted the agreement signed with SBM Offshore to order a newbuild deepwater installation and construction vessel through a joint venture.
"This initiative reflects our long-standing partnership of 26 years with SBM Offshore and our ambition to further develop our capabilities in segments where we see attractive long-term growth," Mr Solstad said. "SBM Offshore will have the new vessel on a 14-year contract, minimum 270 days per year, from its delivery from yard in 2029."
