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Subsea7 S.A. SUBCY has awarded a contract to the Norwegian shipping firm Solstad Offshore for an inspection, maintenance and repair (IMR) vessel. The vessel named Normand Subsea has been under contract with Subsea7 since 2009.
The new contract for the vessel will prolong its stay with Subsea7 for two more years and includes three yearly options. In July 2024, SUBCY exercised the optional charter for 2025, which extended the contract for the vessel until Dec. 31, 2025. The new contract is slated to start on Jan. 1, 2026.
The IMR vessel, built in 2009, features a VS 471 design. The vessel is 113 meters long and can accommodate approximately 90 people. The Normand Subsea vessel is owned by Solstad Maritime Holding, where Solstad Offshore holds a 27.3 % stake.
SUBCY’s Zacks Rank and Key Picks
SUBCY currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks from the energy sector are Archrock Inc. AROC, Oceaneering International OII and NextDecade Corporation NEXT. Archrock currently sports a Zacks Rank #1 (Strong Buy), while Oceaneering International and NextDecade carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading offshore equipment and technology solutions provider to the energy industry. OII's proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.
NextDecade is an emerging player in the LNG space with its Rio Grande LNG project in Texas. The demand for LNG as a clean burning fuel continues to grow and the commodity is expected to play a crucial role in the energy transition process. The company’s focus on expanding its liquefaction capacity is expected to enhance its position in the rapidly growing global LNG market, enabling it to meet the rising demand for natural gas.
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Oceaneering International, Inc. (OII) : Free Stock Analysis Report