Farstad Shipping, Solstad Offshore and Deep Sea Supply said they will forge a merger plan by the end of March.

The Norwegian companies said the deal, which brings together offshore vessel owners backed by John Fredriksen and Kjell Inge Rokke  should close in the first half of the year.

The companies have said that the deal will create the world's largest owner of "high end" offshore vessels, with a fleet of 154 ships.

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