Norway's restructuring Solstad Offshore could be forced to buy a very expensive leased vessel that has seen its charter terminated early.
Italian charterer Saipem's Portuguese unit is returning the 177-loa multifunctional support vessel (MSV) Normand Maximus (built 2016) four years into an eight-year deal.
Oslo-listed Solstad had previously said it is entitled to a termination fee of $44m, but has now revealed that the terms of its bareboat lease with the vessel's owner, Maximus Ltd, require it to buy the unit unless a new charter is secured.
