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
Solstad, have new generations coming into Management.
Lars Peder Solstad
became the new CEO of Solstad in 1999.
Both companies are listed at Oslo Stock Exchange.