Remøy Group AS; Divestment of two PSVs and new management agreements for four vessels

Remøy Group AS has through one of its subsidiaries signed an agreement for the sale of REM HRIST (PSV, PX105, 2011) and REM MIST (PSV, PX105, 2011) to a major international shipping corporation. The vessels are expected to be delivered to their new owner in August 2022. Remøy Shipping AS, the management arm of Remøy Group AS, will continue to manage the vessels following the transaction.

Remøy Shipping has also been awarded management agreements for additional two PSVs for the same owner. Following the transaction, Remøy Shipping will have commercial and technical management of total eight large and modern PSVs operating in the North Sea, in addition to one research vessel and one navy vessel.

The sale of REM HRIST and REM MIST represents an important milestone in the ongoing refinancing of the Remøy Group and its subsidiaries. The transaction will improve Remøy Group’s financial position and enable the company to pursue growth opportunities going forward. The company’s outlook remains strong as demand for offshore supply vessel services have increased significantly the last twelve months following the recent uptick in demand for energy.

Remøy Group AS is a fully integrated shipping company and has its main activity within the oil and gas industry since the beginning of the 1980s. The company is a long-term owner of OSVs. In addition to its own fleet, the company has a significant management business, through its subsidiary Remøy Shipping AS, and is currently providing commercial, technical and crewing services for vessels owned also by other shipowners.

For further information, please contact:
Karl-Johan Bakken, CEO of Remøy Shipping AS,
Mob.: +47 901 05 697