Rem stronger again

Rem Offshore has prospered in the second quarter despite a tough North Sea spot market.

The Oslo-listed company said net earnings to 30 June were NOK 105.78m ($17.12m), from NOK 43.25m in the same period of 2013.

Revenue jumped NOK 335m against NOK 233m year-on-year.

The Aage Remoy-controlled owner said the North Sea spot market was much weaker than expected, however.

Activity has remained high, but there are more vessels than forecast competing for work.

Several have left the spot market, with more to depart in the third quarter, possibly boosting rates, it added.