Solstad Offshore says it entered into several new contracts and contract renewals in the first quarter of 2015 and has "satisfactory" contract coverage for the remaining part of the year and into 2016. "In general, the outlook is negatively characterised by reduced investments from the oil companies in drilling and subsea projects, uncertainties related to the situation in Brazil and the effect of the sanctions between EU/ USA and Russia," said the company in its first-quarter results. "It is expected that the imbalance between supply and demand of offshore vessels will increase, particularly in the PSV segment. "In the construction support vessel (CSV) segment, which is the company's main segment, the situation is better. For the AHTS segment, development of rig activity and the situation in Brazil is crucial for development."
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