Norway's Solstad Offshore (SOFF) has chopped NOK 850m ($99m) off the value of its 140-ship OSV fleet following a request from the Norwegian financial watchdog.
The company has carried out a new impairment test for the third quarter, after being given a Wednesday deadline to revalue its vessels.
At the time, the owner did not consider it necessary to carry out a test, as ship values were supported by independent broker valuations and the values realised from historic vessel sales, it said.
