Fugro Buys ‘Rem Etive’ from Solstad

Oslo-listed vessel owner Solstad Offshore (SOFF) has struck a deal with Fugro for sale of the subsea construction vessel Rem Etive, previously part of REM Offshore fleet.

REM became part of Solstad Offshore in December last year, creating a fleet of 61 vessels including 26 CSVs, 16 AHTSs and 19 PSVs.

The sale would be effective upon the completion of the existing contract, and delivery to Fugro will take place during Q2 2017. The Rem Etive is on a firm charter with Fugro until late May 2017.

According to Solstad, the sale will give a booked profit of NOK 18 million (some $2.1 million) and a net cash effect of approximately NOK 50 million ($6 million) after repayment of the vessel debt.

“We are excited to secure the REM Etive and to continue her deployment for our clients in the APAC region,” said Mark Heine, divisional director marine and member of Fugro’s board of management. “With three multi-year IRM contracts already in place, two of which were awarded in recent weeks, this vessel is the best fit with our fleet to enable us to continue our delivery excellence and efficient performance in subsea IRM projects.”

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