Stig Remoy baulks at brokers over his ‘pay as you go’ deal

Olympic Shipping chairman Stig Remoy has said a long-term charter signed with Reach Subsea is profitable and has many more committed days of work than some brokers have guessed.

“It is a great contract for us, actually. The more the market grows, the more benefit we get out it,” Remoy told TradeWinds, deflecting questions over an implied trigger mechanism on rates.