Solstad Offshore offers Solstad Services
Service
Solstad Services delivers vessel support services — ROV systems, survey, project manning, engineering support, and gangways — to its clients.
Solstad Services delivers vessel support services — ROV systems, survey, project manning, engineering support, and gangways — to its clients.
The subsea vessel market has moved past its 2024 and 2025 highs, with time-charter rates for the latest long-term fixtures in the 150- and 250-tonne segments softening from those peaks. Even as demand for subsea services grows, vessel supply is expanding faster, and an impending influx of speculative newbuilds will likely loosen the market balance and pressure dayrates and utilization, capping the rates Solstad Offshore can earn. Market-leading owners Sea1 Offshore, DOF, and Solstad Offshore are still reporting strong EBITDA margins.
A significant backlog and robust tender pipeline suggest a likely uptick in activity and vessel intake from 2026 to 2027.
An increasingly notable rate differential is expected between owners that deliver integrated scopes, including ROV and engineering services, and owners that provide vessel capacity alone, and Solstad runs ROV systems aboard its vessels under a cooperation agreement with Omega Subsea, through which Solstad Offshore manages and operates those systems and provides the personnel to operate them.
DOF Subsea and DeepOcean have traditionally sat in the IMR and lighter subsea construction segments, while Solstad both owns and rents equipment to match customer needs; eight of the twelve new ROVs that Omega Subsea ordered will support Solstad Offshore.
Offshore ROV demand is projected to grow, and the ROV capacity deployed on Solstad Offshore's vessels gives Solstad Services exposure to that demand alongside ROV contractors including Oceaneering, DeepOcean and TechnipFMC. The global offshore ROV market is projected to expand from USD 4.1 billion in 2025 to USD 7.89 billion by 2035, a 6.76 percent compound annual growth rate across 2026–2035, and eight of the 12 new ROVs Omega Subsea ordered are slated for deployment in support of Solstad Offshore.
Oceaneering announced about USD 180.0 million of Subsea Robotics contracts with Petrobras, covering work class ROV services and related tooling and survey support. ROV sector leaders including Oceaneering International, DeepOcean and TechnipFMC compete through technology upgrades and robust fleets, and they diversify geographically.
Solstad Services supplies a comprehensive range of services on a dayrate basis to offshore vessel clients through its Service segment, covering ROV systems, survey, project manning, engineering support and gangways.
Solstad owns and rents equipment as customer needs require and tailors its services to specific requirements. Under a cooperation agreement with Omega Subsea, Solstad Offshore handles management and staffing to run the ROV systems aboard the vessels.