Norwegian offshore vessel owner Rem Offshore Holding says it delivered strong performance in 2025, driven by a high level of utilization, solid long-term contracts, and a fleet that services multiple markets
The Norwegian company, which services the offshore, subsea, seismic and renewable markets had operating and other income of NKr1.98Bn (US$205M), up from NKr1.82Bn (US$118M) in 2024. The company’s growing fleet of vessels achieved a utilization rate of 96%.
EBITDA reached NKr1.27Bn (US$131M) in 2025, compared to NKr1.15Bn (US$118M) in 2024. Net profit for the group was NKr1.03Bn (US$106M) in 2025, compared to NKr343M (US$35M) in 2024. The result includes an accounting gain of approximately NKr240M (US$25M) 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 NKr2.7Bn, corresponding to an equity ratio of 53.6%. Cash and cash equivalents amounted to NKr656M, and the board considers the group’s financial position and liquidity to be solid.
Rem Offshore chief executive Lars Conradi Andersen said, “2025 was another strong year for Rem Offshore. We have maintained a high level of 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.”
Rem Offshore’s newbuilding program includes three 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, when it will enter a long-term IMR contract on the Norwegian continental shelf with DeepOcean. Both vessels will operate on methanol and diesel, enabling significant emission reductions.
The board expects continued high utilization and a solid financial position in 2026, supported by a strong order backlog and long-term contracts. As of June 2026, the company had an order backlog of NKr6.2Bn (US$640M). The company said the market outlook remains positive, although developments may still be affected by factors such as energy prices, currency fluctuations, interest rates, and general market conditions.
The company also recently confirmed that the hull of Rem Ocean has been delivered by Song Cam in Vietnam and has started its journey to Norway, where it will be completed by Myklebust Verft. Rem Ocean is a next-generation construction vessel, designed to undertake demanding offshore operations while supporting more sustainable solutions for the future.
The hull of Rem Offshore’s low-emissions energy support construction vessel Rem Pioneer departed Vietnam to Norway in October 2025, and is being completed at Myklebust. Built to DNV class, the 117-m vessel is an ST-245 ESCV design from Skipsteknisk, and will be equipped with a 250-tonne offshore crane, energy storage and shore power systems, and have a clear deck area of 1,400 m2. It will be delivered in August 2026. Another newbuild, Rem Power was launched recently at Vard Vung Tau.
