Published 2017-09-07 00:00:00
Sale of vessels to the Brazilian Navy

SolstadFarstad (SOFF) has participated in a public auction in Brazil for the sale of three AHTS vessels to the Brazilian Navy, whereby the Brazilian Navy declared that SolstadFarstad had the best sales offer. Consequently, the Brazilian Navy has decided to acquire the three AHTS vessels Sea Fox, Sea Vixen and Sea Stoat from SolstadFarstad. Total sales price is BRL 82.8 mill (equal to USD 24 mill at the time of the auction) en bloc, and expected delivery to new owner is 4Q 2017.

The sale of the three vessels will have limited effects on the company's profit and loss statement and cash balance.

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