Stig Remoy-chaired shipowner Olympic Subsea has raised money from a ship disposal as it tries to clinch a long-term refinancing.

Olympic Nor, a wholly owned subsidiary, has offloaded the 92-loa multipurpose support vessel (MSV) Olympic Commander (built 2006).

Delivery took place in the week ending 1 October.

The sale will result in an immaterial accounting effect, the company said.

Clarksons lists the ship as idle, while VesselsValue assesses the MSV as worth a little over $6m.