History

1950

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The company Sverre Farstad & Co was established in Ålesund, Norway in 1956 and contracted its first vessel for delivery in 1959. The company later became Farstad Shipping AS.

1960

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Solstad Rederi AS was founded by Captain Johannes Solstad in Skudeneshavn,
Norway in 1964. The company aquired its first bulk vessel “Soldrott” the same
year.

1970

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The offshore revolution.
Both Solstad and Farstad were early players in the North-Sea offshore market, by
contracting and taking delivery of offshore vessels from the first half
of the seventies.

1980

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Crisis
After a decade of growth within the offshore segment, the 80s was
marked by oversupply of offshore vessels and crisis for the shipowners.

1990

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Recovery
The market for offshore service vessels recovers, both shipowners experience a period of significant growth and renewal of the fleet.

A new generation of offshore vessels is born, the multipurpose vessels. Larger
vessels, with high powers, and advanced equipment for work in deeper and
rougher waters.

Both Farstad and Solstad, have new generations coming into Management.
Sverre A. Farstad takes over as CEO of Farstad in 1993 and Lars Peder Solstad
becomes the new CEO of Solstad in 1999.

Both companies are listed at Oslo Stock Exchange.

2000

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Internationalization
Both companies continue to grow and fortify their international presence.

Subsea
Focus and growth within the Subsea market demands even more complex vessels and operations.

In 2005, Deep Sea Supply is established.

2010

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Oil crisis and significant oversupply of vessels. The companies are in need of
refinancing.

As part of Solstad´s refinancing, the Company makes a share issue towards Aker
Capital who becomes one of the major owners.

Solstad merges with Rem Offshore.

Consolidation
Solstad makes a new share issue towards Hemen Holding.
Solstad merges with Farstad and Deep Sea Supply

22/6/17
SolstadFarstad ASA
 

Traditions are strong with SolstadFarstad, and the company has more than 60 years of experience within various shipping segments.