Oceanteam ASA (“Oceanteam” or the “Company”) and its joint venture partner Bourbon have reached an agreement  to sell the construction support vessel  Bourbon Oceanteam 101 (the “Vessel”), owned by the joint venture company Oceanteam Bourbon 101 AS (“Sellers”).

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.

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”)

The charter agreement of CSV BO 101 has been completed and the vessel is preparing for a maintenance programme to gear up for its next contract.

The current charter agreement of Bourbon Oceanteam 101 (CSV “BO 101”) has been extended until mid-first quarter 2020 with possible further extension options well into 2020.

CSV Southern Ocean will support Fugro for a Deepwater ROV subsea installation project off the coast of Sabah, Malaysia. Mobilisation of CSV Southern Ocean will start early July 2019 in Singapore and the works are expected to be completed sometime in the third quarter of 2019.

CSV Southern Ocean will support Fugro on their project off the coast of Australia. Mobilisation of CSV Southern Ocean will start mid May 2019, immediately following its current charter with McDermott.

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.

CSV Southern Ocean secures a new contract and will start operations by mid of February 2018 for a firm period of 30 days and options to extend with 60 days. The Construction Support Vessel has been assigned to multiple smaller projects within the APAC region.

The CSV Southern Ocean, which has been on a long-term bare boat charter contract with Fugro since her delivery in 2010, has been redelivered to Oceanteam per 7 November 2017. Despite the redelivery, under the amended contract the vessel will remain available for jobs as and when fit to Fugro until the original end date of the contract (end 2018).

Curious to know how it is on board of one of our construction support vessels? The crew of our CSV Bourbon Oceanteam 101 vessel made an amazing drone video of their work.
 

From 1 to 4 May, the Offshore Technology Conference (OTC) takes place in Houston. OTC is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge for offshore resources and environmental matters. OTC is the largest event in the world for the oil and gas industry featuring more than 2,300 exhibitors, and attendees representing 100 countries. 

At Oceanteam, we find that not everyone has a clear picture of who we are and what we do. This is quite understandable, as we have developed over the years from a company that merely owns and charters vessels, into a multi-solutions provider for offshore oil & gas platforms and offshore renewable projects, including cable laying, transport and solutions, equipment rental and engineering.

For your overview, we have managed to capture al our different products and services in one frame. 

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. 

Last week, Fugro NV announced to no longer pursue the divestment of its subsea services business in Asia Pacific to Shelf Subsea. As a result, Fugro will retain all vessels, other equipment and personnel related to the business, including Oceanteam’s CSV Southern Ocean. 

With an oil price that fluctuates between 40 and 50 dollars per barrel, many players in the oil and gas industry are in dire straits. Investments in new projects are postponed until further notice or even cancelled. One of the consequences is an overcapacity of vessels worldwide. In these extremely difficult market conditions Oceanteam nevertheless managed to extend two vessel contracts, albeit at significantly reduced rates.

Mathieu Feisthauer has been Oceanteam Shipping’s fleet manager since early 2015. Four questions about the main responsibilities and the biggest challenges of his job.

In May, the South Sailing team, sponsored by Oceanteam, won the second place overall in the SB20 class at the North Sea Regatta. The North Sea Regatta is the biggest sailing event in Northern Europe, which attracts more than 2500 sailors. The team, composed of the talented sailors Johan Ravier, Hélène Peroche, Alexia Barrier and Sal Halbesma, is very happy with the results after an intense battle.

Oceaneering International Inc., the charterer of CSV Bourbon Oceanteam 101, has announced that a unit of BP has exercised its right, related to a Field Support Vessel Services contract between Oceaneering and BP for offshore work in Angola, to terminate its use of the chartered vessel Bourbon Oceanteam 101 at the end of May 2016. Prior to this notice, the work was scheduled to extend through the end of January 2017.

At Oceanteam, we demonstrate our commitment to delivering excellent service in a sustainable manner and with due consideration for everyone’s safety through ISO certification.
 

DOT Shipping successfully operates its two newly built FSVs Icacos and Cobos, and can fully focus on providing high-end vessel solutions for the Mexican market from this strategic location.