News
Mar 01 2023
The Board of Directors of Oceanteam ASA ("Oceanteam" or "Company") today announce that it has appointed Michael Timson as Interim Chief Executive Officer (“CEO”) of Oceanteam with effect from 1 March 2023.
Dec 15 2022
Oceanteam ASA divests the Solutions business and intends to speed up the transition towards new, innovative and ESG business opportunities
Oct 29 2021
With reference to the announcement on a potential combination with Passer Group and subsequent to the due diligence process, the Board of Directors of Oceanteam
ASA (“Company”) advises that parties have mutually concluded to discontinue negotiations and not to pursue the anticipated transaction since final agreement on the underlying economics could not be reached.
Jul 08 2021
Further to the divestment of the shipping assets of Oceanteam ASA (“Oceanteam” or the “Company”) active in the oil & gas segment, CEO Henk van den IJssel has decided to step down from his current position effective 1 August 2021.
Apr 09 2021
The year 2020 has proven to be challenging for Oceanteam; primarily the shipping segment. Since the outbreak of the pandemic, the shipping segment has been confronted with cancellation of offshore projects, increased expenditures in crewing (quarantine with crew changes, testing ect) and class related capex. The difficult market circumstances in combination with persistent liabilities have accelerated management’s initiative to reposition the company and revitalise Oceanteam for future development in the energy transition and renewable market.
Mar 26 2021
Oceanteam Bourbon 4 AS, a joint venture owned 50/50 by Oceanteam ASA (the "Company" or "OTS") and Bourbon Offshore Norway AS, has entered into a Memorandum of Agreement (Norwegian Sales Form) regarding the sale of the vessel CSV Southern Ocean the "Vessel Transaction". The sale is made subject to customary conditions and is expected to be completed in April 2021. After debt service, the sale of the vessel will generate a positive cashflow for the joint venture Oceanteam Bourbon 4 AS.
Nov 30 2020
Oceanteam ASA’s Vessel Owning Companies agree with Financiers on Extension of Deferral under the Facility Agreement (the “Facility Agreement”) for the Bourbon Oceanteam 101 and Southern Ocean (the “Vessels”)
Aug 27 2020
Oceanteam ASA reports half year 2020 results.
Aug 10 2020
Further to the earlier announcement made at the Annual General Meeting of Oceanteam ASA (the “Company” or “Oceanteam”) on 7 May 2020 that board member Hendrik Johannes Jesse would not be available for a renewal of his board position, Mr. Jesse has informed the Company that he resigns from the board of directors (the “Board”) of the Company per 15 August 2020. The Board will as soon as practically possible call for an extraordinary general meeting of the Company for appointment of one additional director.
Oceanteam wishes to thank Mr. Jesse for his contribution to the Company over the last two years.
Oceanteam wishes to thank Mr. Jesse for his contribution to the Company over the last two years.
Apr 09 2020
The year 2019 has proven to be challenging for both Oceanteam’s Shipping and Solutions segment but both segments have performed according to budgetary expectations.
Jan 27 2020
Leadership Change in Oceanteam ASA, following resignation of current CEO Leidus Bosman Oceanteam ASA
The Board of Directors of Oceanteam ASA ("Oceanteam" or "Company") today announced that it has appointed Henk van den IJssel as Chief Executive Officer (“CEO”) of Oceanteam with effect from 1 February 2020.
Jan 20 2020
Under the existing terms of the Facility Agreement (the “Facility Agreement”) for CSV Bourbon Oceanteam 101 and CSV Southern Ocean (the “Vessels”), Oceanteam and Bourbon, the joint owners of the Vessels (the “Owners”), are allowed to defer repayment instalments under the Facility Agreement at no additional costs or covenants. In light of this pre-agreed mechanism, the Owners chose to create greater cash flexibility at an early stage whilst Vessels are on hire and to defer the January 2020 loan instalments until the end of the Loan facility in 2022. The funding, that becomes available as a result of the deferral will allow for greater cash flexibility and can be used to perform the operational maintenance program on both Vessels later this year if and when the vessels become available.
Aug 30 2019
The financial restructuring of the Group has been successfully completed. Both segments performed according to expectations and in combination with decreased financing costs after financial restructuring led to a return of profitability over the first half of 2019. Equity ratio improved further to 72 percent (H1 2018: 62 percent). Both vessels were under charter contract for the first half year of 2019. The Solutions division saw its business lagging in the first half of this year compared to 2018. Together, this led to the following results over the first half year of 2019:
Apr 25 2019
Oceanteam is pleased to present its 2018 annual financial report. 2018 was a good year for Oceanteam, further described in the attached report.
Mar 28 2019
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.
Dec 03 2018
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.
Nov 08 2018
The Board of Oceanteam ASA (the “Company”) is pleased to announce that the bondholders to the Oceanteam ASA Senior Callable Bond Issue 2012/2017 have agreed to convert their outstanding bonds with a total value of USD 5,175,523 into equity. By their willingness to convert their bonds into shares, the bondholders are aligned with shareholders in taking a positive long term view on the future of the Company. There will be no more bonds outstanding after conversion.
Aug 23 2018
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.
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.
Apr 13 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”).
Apr 11 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.
Apr 10 2018
We refer to earlier stock exchange announcements as well as the notice of an extraordinary general meeting of Oceanteam ASA ("Oceanteam" or "Company") summoned on 13 April 2018 concerning the proposal to refinance the company.
Apr 09 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
Mar 28 2018
Oceanteam ASA ("OTS", or "Company") announces today that the Board of Directors has appointed Meindert van Genderen as Interim CEO of the Company
Mar 22 2018
Amsterdam 22 March 2018
In order to mitigate against further repercussion against the company and to diffuse the misinformation that is circulating currently, I wish to offer my resignation forthwith as Chairman of the Board of Oceanteam.
In order to mitigate against further repercussion against the company and to diffuse the misinformation that is circulating currently, I wish to offer my resignation forthwith as Chairman of the Board of Oceanteam.
Mar 22 2018
In order to mitigate against further repercussion against the Company and to diffuse the misinformation that is circulating currently, Chairman of the Board Mr. Hessel Halbesma offered his resignation forthwith as Chairman of the Board of Oceanteam, effective immediately.
Mar 15 2018
Amsterdam (the Netherlands), 15 March 2018 - Oceanteam ASA ("OTS", or "Company") announces today that the CEO of the Company Haico Halbesma has decided to step down from his position effective 30 March 2018. The Board has respected his decision but also requested that he will remain available as an advisor to the Company and the Board.
Feb 24 2018
Oceanteam board members and ceo Haico Halbesma answer questions related to various publications, insinuations and allegations that have been published in the media since 2017.
Those have harmed the reputation of the company and have deeply questioned the integrity of the company’s leadership and its related governance and compliance procedures in place. For many reasons ceo Halbesma has never commented, until now.
The answers cover a wide spectrum of issues and are intended to separate the so-called Facts from Fables.
Those have harmed the reputation of the company and have deeply questioned the integrity of the company’s leadership and its related governance and compliance procedures in place. For many reasons ceo Halbesma has never commented, until now.
The answers cover a wide spectrum of issues and are intended to separate the so-called Facts from Fables.
Feb 09 2018
Following a dispute with KPMG Bergen on commercial matters, Oeanteam ASA (OSE trading symbol: "OTS"; hereinafter "Oceanteam" or the "Company") has suspended the services of its auditor KPMG Bergen followed by a disputed withdrawal of KPMG Bergen as auditor of the Company. Shortly after the Company released the announcement that it received a notice (the "Notice") from the Norwegian Register of Business Enterprises that the Company was requested to appoint and register a new auditor within four weeks as from 20 January 2018.
Sep 25 2017
Per 1 October 2017, Mr. J. van Dijk (1969) has been appointed Group Chief Financial Officer (CFO) of Oceanteam (“the Company”), the Norwegian-Dutch offshore service provider listed at the Oslo stock exchange. Van Dijk, a seasoned financial executive, brings in all relevant international offshore, maritime and civil engineering related experiences, including leadership capabilities that the Company is in need for after a rocky, but successful, financial restructuring that was closed last June 2017
Aug 30 2017
Main financial indicators H1 2017
- Operating Income USD 16.8 million
- EBITDA: USD 6.8 million
- Operating profit: USD 0.9 million
- Net finance (positive): USD 22.4 million
- Net profit: USD 23.3 million, including
- An IFRS IAS 39 fair value effect of new bond loan of USD 29.7 million
- Operating Income USD 16.8 million
- EBITDA: USD 6.8 million
- Operating profit: USD 0.9 million
- Net finance (positive): USD 22.4 million
- Net profit: USD 23.3 million, including
- An IFRS IAS 39 fair value effect of new bond loan of USD 29.7 million
Aug 04 2017
As per 31 July 2017, Mr. D. (Diederik) Legger (1969) has been appointed as a member of the Board of Directors of Oceanteam ("the Company"), the Norwegian-Dutch offshore service provider listed on the Oslo stock exchange.
Jul 10 2017
Oceanteam ("the Company"), the Norwegian-Dutch offshore service provider announces that Mr. B. (Bote) de Vries (1958), who was appointed non-executive director during an EGM on 9 May 2017, has informed the Board of the Company and its bondholders to step down per 10 July 2017. This is only just two months after being on duty. Both have accepted his resignation. As from day one his particular responsibilities have required and will require more time than initially expected. Additionally, according to Mr. Bote de Vries, for now his role should be rather an executive role than a non-executive, since Oceanteam is still in the process of recruiting its new CFO.
Jun 23 2017
Main financial indicators 2016
· Operating income: USD 51.9 million
· EBITDA: USD 22.2 million
· Operating loss: USD 9.1 million
· Net finance (negative): USD 11.9 million
· Net profit (loss): USD 23.3 million
· Additional adjustments (compared to Q4 2016 report):
o assets revaluation adjustment (negative): USD 17.8 million
o additional assets write off (negative): USD 1.0 million
· Operating income: USD 51.9 million
· EBITDA: USD 22.2 million
· Operating loss: USD 9.1 million
· Net finance (negative): USD 11.9 million
· Net profit (loss): USD 23.3 million
· Additional adjustments (compared to Q4 2016 report):
o assets revaluation adjustment (negative): USD 17.8 million
o additional assets write off (negative): USD 1.0 million
Jun 21 2017
Today, Oceanteam and its joint venture partner McDermott closed the sale of Oceanteam's remaining 25 percent stake in vessel-owning company North Ocean 105 AS.
Jun 01 2017
Mr. B. (Bote) de Vries (1958) has been appointed as Director of the Board of Oceanteam (“the Company”), the Norwegian-Dutch offshore service provider listed at the Oslo stock exchange. Mr. de Vries succeeds Mr. James Hill who stepped down and who has been a Director on Oceanteam’s Board since 2012.
May 09 2017
Oceanteam received the written notice from its joint venture partner McDermott in which it commits to purchase Oceanteam's remaining 25 percent stake in the vessel-owning company North Ocean 105 AS on 20 June 2017.
May 02 2017
Today, a bondholders’ meeting took place where the amended and restated bond agreement (the “Bond Agreement”) between the bondholders and Oceanteam was agreed and executed.
Apr 12 2017
Following the announcement of Oceanteam ASA ("Oceanteam" or "Company") on 12 January 2017 having reached an understanding with its bondholders on refinancing its current bond loan agreement, the Norwegian-Dutch offshore service provider with a listing on the Oslo Stock Exchange, today announces it has made the next step forward by reaching an agreement with a qualified majority of its bond holders on the main terms of the bond loan concerned.
Feb 28 2017
Oslo/ Amsterdam – 28 February 2017. Oceanteam ASA has recorded US$ 11.2 million revenues from operations and an EBITDA of US$ 2.8 million in the fourth quarter of 2016. Although faced with a nett loss of US$ 3.1 million in the fourth quarter of 2016, the Dutch-Norwegian offshore service provider is fully on track for future growth, says CEO Haico Halbesma who reached an agreement on new terms with its bondholders after 2016 year ending. As a result, Oceanteam ASA, will have a significantly improved free cash flow and structural lower interest costs as from January 1st 2017, creating a healthy foundation for further growth.
Jan 13 2017
Oceanteam ASA ("Oceanteam" or "Company") announces that joint-venture partner McDermott will exercise its option to purchase Oceanteam’s 25% ownership in the vessel-owning company North Ocean 105 AS by the end of April 2017. Under McDermott’s main credit facility agreement, it has announced that it is required to do so.
Jan 12 2017
Today, Oceanteam ASA ("Oceanteam" or "Company") announced it has reached an understanding with its bond holders on the main terms of the bond loan. As part of a financial restructuring announced in October 2016, the company entered into constructive talks with its banks and its bond holders.
Oct 23 2016
Following initial talks with banks last week kicking off the Company’s planned capital restructuring, Oceanteam ASA will personally inform its bondholders as from 24 October 2016 that it will not meet its interest payments on the Senior unsecured Bond due that same date.
Oct 20 2016
Today the Norwegian-Dutch offshore service provider Oceanteam ASA appointed Wilhelm Bøhn (48) as interim CFO.
Oct 20 2016
Oceanteam ASA ("Oceanteam" or "Company") is in the process of developing a restructuring plan that will secure a capital cost and structure which will support the value preservation and financial flexibility while enabling value creation for all stakeholders.
Sep 14 2016
Please find attached Oceanteam's presentation at the Pareto Securities' Oil & Offshore Conference in Oslo, held on the 14th of September 2016.
Aug 24 2016
Torbjorn Skulstad will leave offshore service provider Oceanteam ASA, the Norwegian-Dutch company with a listing on the Oslo stock exchange, as of November this year. Since May 2016, CEO Haico Halbesma has been assuming the tasks of CFO, following the prolonged sick leave of Mr. Skulstad.
Jul 07 2016
Offshore service provider Oceanteam ASA, the Norwegian-Dutch company with a listing on the Oslo stock exchange, announces that CEO Haico Halbesma (45, photo) is assuming the tasks of CFO until further notice. Current CFO Torbjorn Skulstad has been forced to relinquish his tasks due to illness.
Feb 24 2016
Find out his view on the market, strategy and competitors.
Feb 18 2016
Highlights for the quarter
- Revenue from operations USD 12.4 million
- EBITDA from operations USD 6.8 million
- Operating profit of USD 2.2 million
- Net finance negative USD 2.8 million
Dec 22 2015
As a result of the successful implementation of the Company’s diversification strategy, Oceanteam Shipping ASA as of today will change its name to Oceanteam ASA, reflecting the Company’s growth in solution driven services.
Nov 05 2015
Oceanteam Shipping ASA cordially invites you to attend a corporate presentation of the company's Q3 2015 results.
Sep 03 2015
Please find attached Oceanteam's presentation at the Pareto Securities' Oil & Offshore Conference in Oslo, held on the 3rd of September 2015.