As a result of the cyclone hitting the Indian coast early May, expected scope of work undertaken by the CSV Southern Ocean (“Vessel”) could not be finalized during the charter period. Both charterer (McDermott) and the Vessel owner, in concertation with next Charterer (Fugro), have agreed on an extension of the current charter to allow McDermott to complete its scope of work. All parties involved regret the situation that has arisen, which is beyond any parties’ control.
Oceanteam ASA (the “Company” or “Oceanteam”) and its Mexican partner Diavaz have reached an agreement to terminate the joint venture structure set up by the two groups (the ”DOT Group”), established in 2014 in order to service the Mexican offshore market, in which Oceanteam held 40 percent. Oceanteam’s stake will be taken over by Diavaz.
Reference is made to the stock exchange releases published by Oceanteam ASA ("Oceanteam" or the "Company") on 11 November 2018 regarding the agreement with the bondholders to convert the remaining outstanding bonds into equity in the Company and on 17 December 2018 regarding the conversion of the bonds, following which there were no bonds outstanding.
Oceanteam is pleased to announce a contract extension for two of its turntables well into 2019 with potential to extend beyond this firm period. With this contract Oceanteam Solutions’ 2000t and 4000t turntable will enter its third year of hire and reflects the cooperative partnership the two companies have had over the past years. The company additionally succeeded to extend one of its cable storage and handling contracts. These multiple extensions confirm Oceanteam’s excellent and pragmatic approach going forward in this expanding and promising cable market.
On Friday the 30th of November 2018, during an Extraordinary General Meeting in Bergen Norway, shareholders accepted the resolutions in which the Company is allowed to issue additional shares to convert its remaining bonds into shares and, secondly, authorizing the Board to issue new shares in order to support the growth ambitions of the Company.
CSV Southern Ocean will support McDermott on their subsea installation project off the East Coast of India. Mobilisation of CSV Southern Ocean will start at the end of the year and the works are expected to be completed in the second quarter of 2019.
Oceanteam Solutions has recently signed a contract with one of UK’s biggest energy companies for the supply of a barge equipped with a 5300t turntable and auxiliary equipment for the transport of cables from Norway to the Netherlands. The project is planned to be executed this month.
Amsterdam (the Netherlands)/ Bergen (Norway), 23 August 2018
Oceanteam ASA ("Oceanteam" or "Company") today announced that its Board of Directors has appointed Leidus Bosman as Chief Executive Officer (“CEO”) with effect from 15 October 2018.
The contract for CSV Southern Ocean entered into in February 2018 has been further extended with one month firm. The client is granted additional extension options after expiry of the firm period. The Construction Support Vessel will continue to be assigned to multiple smaller projects within the APAC region.
Amsterdam (the Netherlands)/ Bergen (Norway), 13 April 2018
Oceanteam ASA ("Oceanteam" or "Company") is pleased to announce that the Company has reached an agreement with the Halbesma Family and the companies affiliated with them and has secured their support for the proposed comprehensive re-financing plan, which will be voted upon as part of the agenda on the extraordinary general meeting of shareholders to be held today, 13 April 2018, Friday (“EGM”).
Amsterdam (the Netherlands)/ Bergen (Norway), 12 April 2018.
Reference is made to the notice of an extraordinary general meeting (“EGM”)of Oceanteam ASA ("Oceanteam" or "Company") to be held on 13 April 2018 concerning the proposal to refinance the Company and the notice relating to the extension of the deadline for registration to attend the EGM of 11 April 2018.
Amsterdam (the Netherlands)/ Bergen (Norway), 11 April 2018. Reference is made to the notice of an extraordinary general meeting ("EGM")of Oceanteam ASA ("Oceanteam" or "Company") to be held on 13 April 2018 concerning the proposal to refinance the Company and the letter to the shareholders and attached presentation ("Presentation") of 10 April 2018.
Amsterdam (the Netherlands)/ Bergen (Norway), 9 April 2018, Oceanteam ASA ("Oceanteam" or "Company") has reached a preliminary agreement with Keesjan Cordia today to take a substantial shareholding in Oceanteam and to strengthen the Board of Directors of the Company