Record results for Rem Offshore Holding

Record results for Rem Offshore Holding

 

Photo: Strong 2025 results in Rem Offshore, here represented by onshore employees in Fosnavåg, with CEO Lars Conradi Andersen and Chairman Åge Remøy in the center.

 

 

Rem Offshore Holding AS delivered a strong performance in 2025, driven by high fleet utilization, solid long-term contracts, and a modern fleet serving the offshore service, subsea, seismic, and renewable markets. The Group’s operating and other income amounted to NOK 1.98 billion, up from NOK 1.82 billion the previous year, and the fleet achieved a utilization rate of 96%.

EBITDA reached NOK 1.27 billion in 2025, compared to NOK 1.15 billion in 2024. Net profit for the Group was NOK 1.03 billion in 2025, compared to NOK 343 million in 2024. The result includes an accounting gain of approximately NOK 240 million from the sale of the PSV vessel Rem Supporter.

The Group also strengthened its balance sheet throughout the year. At year-end 2025, Rem Offshore Holding had equity of NOK 2.7 billion, corresponding to an equity ratio of 53.6 percent. Cash and cash equivalents amounted to NOK 656 million, and the Board considers the Group’s financial position and liquidity to be solid.

 

“2025 was another strong year for Rem Offshore. We have maintained high activity, strong earnings, and a solid financial position, while continuing to invest in a modern and more energy-efficient fleet. Our employees at sea and onshore are doing a tremendous job, and we are well positioned for further growth in the years to come”
Lars Conradi Andersen

CEO

Rem Offshore continues to invest in low-emission and energy-efficient vessel technology. The newbuilding program includes three modern, energy-efficient vessels, including the construction vessel Rem Pioneer, scheduled for delivery in Q3 2026, and the IMR vessel Rem Ocean, to be delivered in Q2 2027 and entering a long-term IMR contract on the Norwegian continental shelf for DeepOcean. Both vessels will operate on methanol and diesel, enabling significant emission reductions.

The Board expects continued high fleet utilization and a solid financial position in 2026, supported by a strong order backlog and long-term contracts. As of June 2026, the company has an order backlog of NOK 6.2 billion. Market outlook remains positive, although developments may still be affected by factors such as energy prices, currency fluctuations, interest rates, and general market conditions.

Rem Ocean hull delivered – vessel begins journey towards Norway

Rem Ocean hull delivered – vessel begins journey towards Norway

 

Rem Offshore is pleased to announce that Rem Ocean was delivered from the hull yard in Song Cam, Vietnam on 15 June, marking the successful completion of the hull construction phase. The delivery represents a major milestone in the project. 

 

 

 

The scope of work has been completed to a very high shipbuilding standard. In my assessment, this is among the finest hulls ever delivered to the Sunnmøre region, providing a strong foundation for a smooth and efficient outfitting phase at Myklebust Verft.
Kristian Stavset

Head of Projects

 

Following delivery, Rem Ocean has now commenced her voyage from Vietnam to Norway. The tow began from the Hai Phong area on 17 June, and the vessel will proceed via Singapore before continuing towards Europe. This journey marks the transition from hull construction to the final outfitting and completion phase.

Once in Norway, Rem Ocean will arrive at Myklebust Verft, where the vessel will be outfitted with all major systems and mission equipment. This phase will transform the hull into a fully operational offshore vessel, ready to deliver on its intended role.

Rem Ocean is part of Rem Offshore’s next generation of construction vessels, designed to meet demanding offshore operations while supporting more sustainable solutions for the future. 

The delivery and departure from Vietnam highlight the strong collaboration between yard, project team, and partners involved in the build. With the vessel now underway, the project continues to progress according to plan.

Rem Offshore looks forward to welcoming Rem Ocean to Sunnmøre and progressing towards final delivery.

 

 

 

Rem Ocean launched at Song Cam

Rem Ocean launched at Song Cam

Rem Offshore is proud to announce the successful launch of Rem Ocean at Song Cam Shipyard in Vietnam. The launch marks a significant milestone in the construction of this advanced subsea vessel and was celebrated with a memorable ceremony together with our partners and the dedicated site team.

Rem Ocean is a modern Inspection, Maintenance and Repair (IMR) vessel, based on Skipsteknisk’s ST‑245 design, developed to meet the highest standards of performance, safety and operational efficiency. The vessel is designed for demanding offshore operations and is equipped with state‑of‑the‑art technology to ensure reliable and flexible operations in challenging environments.

Upon delivery, Rem Ocean will operate for DeepOcean under a long‑term charter contract with Equinor, supporting critical subsea operations on the Norwegian continental shelf. The project represents a strong collaboration between shipyard, designers, owners, charterer and end client. It reflects a shared ambition to deliver future‑oriented and sustainable offshore solutions.

The launch at Song Cam Shipyard is an important step towards completion, and Rem Offshore would like to extend a sincere thank you to everyone involved for their commitment, craftsmanship and teamwork throughout the project so far.

Winner of EY Entrepreneur Of The Year – Production Category

Winner of EY Entrepreneur Of The Year – Production Category

Founder and Chairman Åge Remøy has been named the national winner of the EY Entrepreneur Of The Year 2025 – Production category. The recognition was announced at the national final in Oslo 4th February, where Norway’s leading growth creators were honoured by an independent jury. This prestigious award highlights Remøy’s long-standing contribution to Norwegian industry, maritime innovation, and regional value creation, as well as his pivotal role in shaping Rem Offshore into a strong and internationally competitive offshore service company.

Watch the nomination video

A Builder of International Growth

Remøy secured the top position in the Production category for his instrumental work in developing Rem Offshore into a resilient, future‑oriented maritime company with a global footprint. His deep industry expertise, adaptability, and remarkable endurance have been crucial in navigating an increasingly complex and demanding offshore market.

A core element of his leadership philosophy is the reinvestment of profits directly back into the business. This long-term approach has fueled continuous development and innovation and strengthened Rem Offshore’s ability to deliver high-quality services worldwide.

Safety, quality, and sustainability remain central pillars of Rem Offshore’s operations. Values that have supported local employment and bolstered economic resilience in Fosnavåg and the surrounding region. These values continue to reinforce Rem Offshore’s position as a trusted and forward‑looking offshore service provider.

Our Mission and Vision in Action

Åge’s recognition reflects the very foundation of who we are as a company.

Mission:
We deliver safe and sustainable offshore services – driven by purpose, determination and care for people, environment and future needs.

Vision:
Light footprint – lasting legacy.

Under Åge’s leadership, these principles have guided Rem Offshore’s development for decades, shaping a company committed to responsibility, long-term thinking, and meaningful contributions to both industry and society. This award demonstrates how our mission and vision are not just statements, but commitments lived out every day across the organization.

A Regional Force and National Finalist  

Before advancing to the national stage, Remøy was selected as one of the top finalists from the Møre og Romsdal region. EY highlighted how finalists from this region exemplify:

  • Strong industrial traditions
  • Long‑term thinking
  • Deep sector competence

These qualities translate into competitiveness and value creation both locally and globally.

The regional jury emphasized the powerful combination of expertise, local heritage, and ambition demonstrated by Åge and the other finalists. His decades of dedication to the Norwegian maritime industry made his progression to the national final on 4 February 2026 both natural and well‑deserved.

About EY Entrepreneur Of The Year 

EY Entrepreneur Of The Year is the world’s largest program celebrating growth creators. Established globally in 1986 and in Norway since 2002, the award stands out due to its holistic evaluation of entrepreneurial excellence—giving equal weight to leadership, values, financial performance, and social and environmental commitment.

The program honors individuals who:

  • Contribute ideas
  • Invest capital
  • Show personal dedication
  • Create lasting value and jobs

Winners are selected by independent juries at regional, national, and international levels. In Norway, the program is organized in collaboration with Danske Bank.

The national jury includes:

  • Hans Petter Mellerud (Zalaris ASA)
  • Hilde Midthjell (entrepreneur and investor)
  • Bjørn Maarud (Chairman, Cutters)
  • Gyrid Skalleberg Ingerø (Deputy Chair, Telenor ASA)
  • Ellen Amalie Vold (Storm Finko AS)
  • Torill Standal Eliassen (Conta AS)
  • Øystein Bø (Formue AS)

Recognition of Leadership and Lasting Impact

Åge Remøy’s award represents far more than business success, it recognizes a visionary leader who has shaped an industry, strengthened the maritime region on the west coast, and exemplified resilience and innovation over decades. His leadership continues to contribute significantly to job creation, offshore operational capabilities, and Norway’s position as a global maritime leader. Remøy’s achievement stands as a testament to the strength of Norwegian entrepreneurship, and to the long-term impact a value‑driven leader can have on industry and society.

 

A Shared Achievement

Although this recognition is awarded to Åge personally, he emphasizes that the honor belongs equally to the entire Rem organization. The people of Rem Offshore are the driving force behind the company’s progress, resilience, and reputation. Their dedication, professionalism, and teamwork have been essential in shaping the company into what it is today.

From vessel crews delivering world‑class operations at sea to the onshore teams ensuring quality, safety, and strategic development, every employee contributes to the company’s long-term success. Åge underlines that this award reflects the collective effort of a strong, committed and highly skilled organization that works together every day to move Rem Offshore forward.

OSJ Award, ESG Award 2026

OSJ Award, ESG Award 2026

CCO Trond Skodjevåg Bø accepted the reward on behalf of Rem Offshore

We are incredibly proud to share that Rem Offshore has been awarded the OSJAward, ESG Award 2026! 

Winning this award is an important milestone for us, a recognition of our long-term commitment to Environmental, Social, and Governance (ESG) principles, and the dedicated work our team puts into integrating sustainability into every part of our operations.

At Rem Offshore, our mission guides us every day:
Delivering safe and sustainable offshore services, driven by purpose, determination, and care for people, the environment, and future needs. 🌱

The nomination committee highlighted several key areas that contributed to our win:
✔️ Strong environmental impact: Our ambition to reduce fleet emissions by 50% by 2030 through innovation and continuous investment.
✔️ Social responsibility: A clear focus on diversity, inclusion, and safety — building a resilient and empowered workforce.
✔️ Robust governance: Transparent, ethical decision-making that strengthens trust and accountability.
✔️ ESG at the core: Sustainability is not just an initiative; it is a strategic driver shaping our engagement with stakeholders and our contribution to local communities.

A huge thank you to everyone who has voted for us!

Insurance Renewal Event 2026

Insurance Renewal Event 2026

 

As part of the 2026 insurance renewal process, Rem had the pleasure of welcoming all our corporate insurance partners and our broker to Fosnavåg on January 22nd for a full day program.

 

 

We started the day with a company update from Rem management, followed by an introduction to the newbuild TBN Rem Pioneer presented by our Head of Project. After a productive morning and lunch at the office, we continued to Myklebust Shipyard by bus.

At Myklebust Yard, the group received a yard introduction, safety briefing, and a guided tour onboard the vessel by the site team.

The final stop of the professional agenda was a visit to Evotec, where we were introduced to the company’s products for the upcoming Rem vessels. We also toured the production hall, where the LARS system for TBN Rem Pioneer was ready for shipment.

We rounded off the day with a lovely dinner at Thon Hotel Fosnavåg, enjoying local ingredients and great conversations.

Bringing a large group to the Northwest coast of Norway in late January can be a weather gamble, but this time, we were truly lucky.

A big thank you to Myklebust Yard, Evotec, and Aon for helping us facilitate this valuable and inspiring event!