Norway’s Aage Remoy has set his sights on countercyclical fleet expansion in the dire offshore market, after re-entering shipowning with majority control of compatriot Vestland Offshore.

Remoy’s new investment vehicle, In Nord Vest (INV), has taken a 60% stake in Vestland, while other new investors and some original ones have a combined interest of 40%.

The transaction includes four large platform supply vessels (PSVs) built in 2012.