SBM Offshore and Solstad Offshore in partnership for a new installation vessel
Rhea-AI Summary
SBM Offshore (SBFFF) and Solstad Offshore have formed a joint venture that signed a Letter of Intent with a shipyard to order a next‑generation multi‑purpose deepwater installation and construction vessel, targeted for delivery in the first half of 2029.
The vessel will install ocean infrastructure, including FPSOs, supports SBM Offshore’s full lifecycle EPCIO offering, and aims to reduce execution risk. The joint venture will own the vessel, with SBM Offshore holding 49.9% and Solstad Offshore 50.1%; Solstad Shipping will manage it, while SBM Offshore will charter it for projects and allow third‑party charters when available. A financial calendar lists key earnings and AGM dates through May 2027.
Positive
- Joint venture created with Solstad Offshore for a new installation vessel
- Letter of Intent signed to order next‑generation deepwater installation vessel for 1H 2029 delivery
- SBM Offshore holds 49.9% and Solstad Offshore 50.1% in the vessel‑owning joint venture
- SBM Offshore to charter the vessel for its projects, with potential third‑party charters when idle
Negative
- None.
News Market Reaction – SBFFY
In the Jun 1 session, SBFFY gained 3.78%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 13 | Share repurchase update | Positive | -2.8% | Progress report on EUR 227 million share buyback, 20.16% completed. |
| May 07 | Trading update | Positive | -4.3% | Strong 1Q26 trading update with higher revenue, lower net debt, and dividend. |
| May 06 | Share repurchase update | Positive | +0.1% | Weekly detail on EUR 227 million buyback, 18.19% program completion. |
| Apr 22 | Share repurchase update | Positive | +0.1% | Further progress on EUR 227 million repurchases, 14.63% of program done. |
| Apr 15 | AGM resolutions | Positive | -5.1% | AGM approval of all resolutions and EUR 84 million cash dividend. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent positive corporate updates (earnings, buybacks, AGM approvals) often coincided with flat-to-negative next-day moves, indicating a tendency for selling or muted reactions even on supportive news.
Over the last few months, SBM Offshore reported multiple milestones: recurring weekly updates on a EUR 227 million share repurchase program, a strong 1Q26 trading update with sharply higher Directional revenue and lower net debt, and shareholder approval of all AGM 2026 resolutions including a EUR 84 million cash dividend. Despite generally supportive news flow, several events saw negative 24-hour price reactions. Today’s partnership and vessel announcement fits into an ongoing narrative of strategic investment and capital returns against a backdrop of sometimes contrarian price responses.
Key Terms
letter of intent financial
fpsos technical
market abuse regulation regulatory
forward-looking statements regulatory
alternative performance measures financial
esma regulatory
ifrs financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Amsterdam, June 1, 2026
SBM Offshore and Solstad Offshore have formed a joint venture, which has entered into a Letter of Intent with a selected shipyard to order a new-build next-generation multi-purpose deepwater installation and construction vessel. The new vessel is targeted for delivery in the first half of 2029.
The new vessel will support the installation of ocean infrastructure, including FPSOs, and reflects the Company’s ambition that ocean infrastructure will contribute to drive a sustainable blue economy.
The new installation vessel builds on the operational success of Normand Installer and the existing partnership combining SBM Offshore’s installation expertise with Solstad Offshore’s track-record of offshore support vessel operations. The vessel features an optimized design to install ocean infrastructure in shallow and deepwater.
Furthermore, a new vessel will enable us to maintain our full lifecycle EPCIO offering and create additional competitive advantages through improved delivery reliability and the integration of more offshore installation work scopes. This will in turn reduce execution risk for our clients and improve predictability of our EPCIO schedule and cost.
The new vessel will be owned by a joint venture company in which SBM Offshore holds a
Corporate Profile
SBM Offshore is a global leader in deepwater ocean infrastructure, delivering floating production solutions across the full asset lifecycle—from design and construction to installation and operation. Supported by a global team of more than 8,000 professionals, the Company operates a long-term, asset-backed business model that delivers high-availability assets and predictable cash flows. SBM Offshore combines engineering expertise, operational reliability, and selective innovation to support safe, efficient, and lower-carbon energy production, while extending its capabilities into new opportunities across the blue economy.
For further information, please visit our website at www.sbmoffshore.com.
| Financial Calendar | Date | Year | |
| Half Year 2026 Earnings | August 6 | 2026 | |
| Third Quarter 2026 Trading Update | November 12 | 2026 | |
| Full Year 2026 Earnings | February 18 | 2027 | |
| Annual General Meeting | April 7 | 2027 | |
| First Quarter 2027 Trading Update | May 5 | 2027 |
For further information, please contact:
Investor Relations
Wouter Holties
Corporate Finance & Investor Relations Manager
| Phone: | +31 (0)20 236 32 36 |
| E-mail: | wouter.holties@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Media Relations
Giampaolo Arghittu
Head of External Relations
| Phone: | +31 (0)6 212 62 333 / +39 33 494 79 584 |
| E-mail: | giampaolo.arghittu@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Market Abuse Regulation
This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Disclaimer
Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views, expectations and various assumptions regarding the financial and non-financial position of SBM Offshore N.V., anticipated developments and other factors, and involve known and unknown risks, dependencies and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and / or similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impacts, Risks and Opportunities’ section of the 2025 Annual Report.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore N.V. does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.
Data underpinning certain disclosures – particularly sustainability-related - may be subject to inherent limitations. These limitations include but are not limited to reliance on third party data providers whose data quality, completeness and integrity may differ; the use of estimates and assumptions where actual data is unavailable or incomplete; and dependencies on value chain partners for timely and accurate information provision. Methodologies, standards and regulatory requirements for measuring and reporting information—especially sustainability related information—continue to evolve. As a result, our measurement approaches and reported figures may be refined over time as more accurate, granular or standardised data becomes available. Accordingly, all data, and emissions data in particular, should be interpreted in light of these limitations and the ongoing maturation of sustainability reporting practices across our value chain.
This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in 2025 Annual Report, available on our website Annual Reports - SBM Offshore.
Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
"SBM Offshore®", the SBM logomark, “Fast4Ward®”, and “F4W®” and “Imodco®” are proprietary marks owned by SBM Offshore.
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