EuropeFinance and InsuranceOffshore

Åge Remøy to invest $62m in founding new OSV company

Åge Remøy has revealed plans to start offshore support vessel (OSV) company, just after Solstad shareholders approved a merger of the company with Rem Offshore, which Remøy founded.

Alongside former fishing industry investors Magnus Roth and Thorsteinn March Baldvinsson, Remøy has created a new investment company in Fosnavåg that will invest up to NOK 500m ($61.5m) in the new venture, Dagens Næringsliv (DN) reports.

Remøy said the capital should be in place shortly and will give the new company a strong foundation, although its plans are not yet definite.

“If there is one thing that is scarce and that banks scream after then it is capital, so I think that if we are careful with this capital so we can build quite a lot of it,” he told DN.

The Norwegian shipowner told the newspaper he had intended to remain as a passive chairman of Rem Offshore’s board, but when that didn’t work out he had to find something else.

“I am willing to fight for jobs in the local community, and this new company is an expression of it,” Remøy told the Norwegian paper.



Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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