Rem Offshore chairman Aage Remoy says he has by no means given up the fight to keep his company intact but adds that the Aker move to merge Rem with Solstad Offshore “feels like checkmate”.

Today’s tough oil-service downturn means that most offshore owners, inside and outside Norway, have been forced into restructuring.

During a bondholder vote to approve Rem’s restructuring plan this week, it became clear that Oslo-listed Aker fully intends to deliver on its promise to start consolidating the fractured market for offshore support vessels (OSVs) in Norway using its recent investment in Oslo-listed Solstad.

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