Norwegian offshore supply vessel operator Solstad Maritime has raised its full-year 2026 guidance, pointing to improved utilisation rates and stronger-than-expected demand across its fleet. The company now expects higher revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) for the year, driven by increased chartering activity in the North Sea and other international waters.
The upgrade reflects a broader recovery in the offshore oil and gas support sector, where vessel supply has tightened amid sustained energy demand. Solstad Maritime noted that several long-term contracts have been secured, and day rates have firmed. The news pushed shares in Oslo-listed Solstad higher, with the stock gaining around 3% in early trading on Wednesday.
For UK investors, the development offers a read-across to London-listed peers such as Subsea 7 and John Wood Group, both of which have exposure to offshore energy services. Analysts at Peel Hunt commented that the guidance upgrade 'underscores the improving fundamentals in the offshore support vessel market, which should benefit the wider supply chain.' However, they cautioned that oil price volatility and regulatory shifts remain risks.
The FTSE 100 edged up 0.2% to 8,245 on the day, with energy services stocks among the outperformers. The FTSE 250 added 0.1% to 20,610. Solstad's announcement also comes as the UK's own offshore wind sector faces headwinds, but traditional oil and gas support vessels remain in demand for decommissioning and maintenance work.
The improved outlook for Solstad Maritime may also have indirect implications for UK pension funds, many of which hold diversified exposure to global shipping and energy infrastructure. While the company is not listed in London, its performance is closely watched by institutional investors tracking the maritime and energy transition themes.