Restructuring Norwegian OSV giant Solstad Offshore has reduced its debt in a deal with John Fredriksen.
The world's biggest owner of high-end offshore vessels said it had agreed to sell its remaining 20% holding in well boat joint venture DESS Aquaculture Shipping (DESS Aqua) to a company affiliated to its partner Fredriksen's privately held Hemen Holding.
Fredriksen's Deep Sea Supply, together with Farstad Shipping, was merged into Solstad in 2017.
