Pressreleases
May 16 2018
Oceanteam ASA ("Oceanteam" or "Company") herewith announces that Board Member Diederik Legger resigns with immediate effect to assume the position of interim CEO of the Company.
May 02 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.
Apr 26 2018
Oceanteam Completes Debt to Equity Conversion and Renegotiates the Bond Loan Agreement with ISIN: NO 001 066201.8 referred to as FRN Oceanteam ASA Senior Callable Bond Issue 2012/2017 (the "Bond Agreement" or the "Bond Loan").
Apr 13 2018
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”).
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 12 2018
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.
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.
Apr 11 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.
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 23 2018
Mrs Int Pos has offered her resignation forthwith as Board Member of Oceanteam ASA Member effective immediately.
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 20 2018
With reference to the recent press releases of Oceanteam ASA ("Oceanteam" or the "Company") as referred to below, the Oceanteam Board presents an update on various going concern issues and the envisaged actions;
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.
Mar 10 2018
Reference is made to Oceanteam ASA's (OSE trading symbol: "OTS") press releases of 9 February and 14 February regarding the plan to solve the Company's auditor issue and notice of an extraordinary general meeting to approve a cross-border merger between Oceanteam ASA and its Dutch subsidiary Oceanteam II B.V.
Feb 24 2018
Main financial indicators 2017:
Operating Income USD 31.8 million
EBITDA: USD 9.1 million
Operating Loss: USD 1.5 million
Net finance (positive): USD 14.4 million
Net profit: USD 11.7 million
Non-recurring item Additional adjustments (compared to Q4 2016 report):
> assets revaluation and write off's (negative): USD 4.4 million
Operating Income USD 31.8 million
EBITDA: USD 9.1 million
Operating Loss: USD 1.5 million
Net finance (positive): USD 14.4 million
Net profit: USD 11.7 million
Non-recurring item Additional adjustments (compared to Q4 2016 report):
> assets revaluation and write off's (negative): USD 4.4 million
Feb 22 2018
Reference is made to Oceanteam ASA's ("OTS", "Oceanteam" or the "Company") press release of 5 September 2017 regarding Bergen District Court's receipt of a petition for a public investigation ("Investigation") in the Company and Oceanteam's announcement of 9 February 2018 that the Company has received a ruling from the court dated 8 February 2018, which concludes that an Investigation of certain related party transactions will be initiated.
Feb 20 2018
Oceanteam ASA ("OTS" or "Company") has received a notice from the Register of Business Enterprises ("Register") that the period granted to the Company to appoint and register a new auditor has been extended to 15 April 2018. If the Company fails to remedy this matter by the aforementioned deadline the Register will notify the District Court thereof which may result in a compulsory liquidation of the Company.
Feb 15 2018
On 15 February 2018, in light of the current state of the market, DOT Shipping (a joint venture between Diavaz and Oceanteam) and Pacific Radiance Ltd have mutually agreed to terminate agreements, which were entered into on 9 October 2014, for purchase and bareboat chartering of the vessel Tampamachoco 1 (T1) without further liability to Diavaz-Oceanteam.
Feb 09 2018
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.
Feb 09 2018
Reference is made to Oceanteam ASA's (OSE trading symbol: "OTS"; hereinafter "Oceanteam" or the "Company") press release of 5 September 2017 regarding the municipal court of Bergen's receipt of a petition for a public investigation ("Investigation") in the Company.
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.
Jan 30 2018
Oceanteam ASA ("OTS" or "Company") has received a notice from the Register of Business Enterprises ("Register") that the Company has four weeks from 20 January 2018 to appoint and register a new auditor. If the Company fails to remedy this matter by this deadline the Register will notify the District Court thereof.
Jan 15 2018
With reference to the press release issued on 3 January 2018 Oceanteam ASA (Oceanteam), the Dutch - Norwegian offshore service provider, listed at the Oslo stock exchange, and Royal IHC (IHC), a Dutch privately owned global supplier of innovative and efficient equipment, vessels and sustainable services for the offshore, dredging and wet mining markets announce that the required conditions precedent have now been fulfilled.
Jan 03 2018
Oceanteam ASA (Oceanteam), the Dutch - Norwegian offshore service provider, listed at the Oslo stock exchange, and Royal IHC (IHC), a Dutch privately owned global supplier of innovative and efficient equipment, vessels and sustainable services for the offshore, dredging and wet mining markets announce that Oceanteam and IHC have executed a signing protocol under the terms of which IHC will acquire all of the outstanding share capital of Oceanteam's Dutch based engineering and consultancy company KCI the Engineers B.V. subject to certain conditions precedent through an agreed Sale and Purchase Agreement. The transaction is not subject to regulatory approval.
Dec 08 2017
Today, Oceanteam ASA, the Dutch - Norwegian offshore service provider, listed at the Oslo stock exchange, announces it has signed a heads of terms agreement to sell part of its Solutions business.
Nov 23 2017
Following the suspension by Oceanteam ASA of the auditor's services of KPMG in Norway on 14 November 2017, KPMG has informed the Company that it withdraws its services as statutory auditor in Norway with immediate effect. Oceanteam ASA disputes the validity of such resignation and is in process of filing a formal complaint.
Nov 14 2017
Oceanteam ASA, the Dutch Norwegian offshore service provider listed on the Oslo Stock Exchange, has suspended KPMG's services, the Company's auditor in Norway. The decision was made based on Oceanteam's investigative findings regarding audit costs that were charged for work not performed.
Nov 07 2017
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).
Oct 30 2017
OCEANTEAM ASA - CONFIRMATION INTERIM REPORT 2017 IS IN ACCORDANCE WITH CURRENTLY APPLICABLE STANDARD
The Board of Oceanteam ASA, the Dutch-Norwegian based offshore service provider Oceanteam ASA ("Oceanteam" or "Company") would like to announce the following regarding the Company's 2017 interim report:
Oct 02 2017
Oceanteam Solutions has recently signed a contract regarding the supply of a 5300T turntable, a loading tower and auxiliary equipment on a barge for the storage and multiple loadouts of subsea cables in the Netherlands. Furthermore, Oceanteam will accommodate a professional cable handling crew that will assist during the cable loadouts.
Sep 25 2017
PRESS RELEASE
Amsterdam, Bergen - 25 September 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.
Amsterdam, Bergen - 25 September 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 07 2017
Oceanteam ASA (the "Company") refers to section 4 of the minutes from its extraordinary general meeting, wherein it is stated that the proposal for an investigation of the Company was supported by shareholders representing more than ten percent of the share capital of the Company. Pursuant to §5-25 (2) of the Norwegian Public Limited Liability Act, any shareholder may within one month from the date of the general meeting require the district court to pronounce by decree a decision for investigation.
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 31 2017
SOLUTIONS WINS CONTRACT FOR SUPPLYING VESSEL, EQUIPMENT AND SERVICES FOR CABLE TRANSPORT AND LOADOUT
Following the letter of intent in May, Oceanteam Solutions has recently signed a contract with a European cable manufacturer regarding the supply of a transport vessel, turntable and auxiliary equipment for the transport of cables from South Europe to Scandinavia. The project is planned to be executed in summer 2017.
Jul 27 2017
Oceanteam Solutions has been awarded a long-term contract to supply a company that performs the installation of marine power cables with a 2000T demountable turntable including engineering and personnel services.
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 20 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 17 2017
SOLUTIONS WINS LONGTERM CONTRACT TO ENGINEER AND SUPPLY 5300T AND 1100T TURNTABLES FOR CABLE STORAGE
Oceanteam Solutions has been awarded a long-term contract to supply a company that provides cables and systems for energy and telecommunications with port facilities, loadouts and storage of cables at Oceanteam's own cable storage facility in Velsen Noord, The Netherlands. Furthermore, Oceanteam will accommodate a professional cable handling crew, engineering services and equipment for the complete project.
May 09 2017
Today, an extraordinary general meeting Oceanteam ASA (the "Company") was held in Bergen, Norway. The following was decided upon;
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.
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 11 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.
Dec 16 2016
Oceanteam's subsidiary Diavaz-Oceanteam Shipping (DOT) has come to an agreement with seller Pacific Radiance to postpone the delivery of the CSV Tampamachoco 1 (T1) for one year. Delivery is now scheduled for January 2018. The Oceanteam joint venture with Mexican-based Diavaz however holds an option to further delay the delivery for another year. Pacific Radiance will absorb the additional costs for the deferred delivery.