CSV Southern Ocean secures new contract for works in India

Nov 27 2019
CSV Southern Ocean has been awarded two charters on offshore projects off the East Coast of India. The scope is a partial continuation of the scope that was initiated previous year.
Works on the first short term contract have commenced this month whereas the second, longer term contract is expected to commence in December 2019 and works are expected to be completed in the first quarter of 2020 with optional extension to take the contract well into 2020.
Mathieu Feisthauer, Fleet and Chartering Manager of Oceanteam, says: “Securing this new contract for the CSV Southern Ocean after successfully finalising last year’s project in Indian waters, shows that the market has faith in our assets and in us as an offshore service provider. This is now the second and third charter in this region. A region that is rapidly developing and will provide more opportunities in the future. We hope to remain a part of that.”
With the CSV Southern Ocean now under charter as well, the entire Oceanteam fleet is fully utilised with firm charters into the first quarter of 2020.
Over 2019, the fleet utilisation is expected to exceed 85%. This reflects the appreciation of the Oceanteam vessels and tasks they are expected to execute.

The CSV Southern Ocean is a DP2 Construction Support vessel (dynamic positioning class 2), that is characterised by her large cranes (1 x 250 and 1 x 100 tonnes fully heave compensated), 2400 m2 deck space, extensive accommodation and excellent seafaring capabilities. These characteristics enable Southern Ocean to be utilised for field support, construction, installation and IRM.
CSV Southern Ocean is jointly owned by Bourbon and Oceanteam.

About Oceanteam ASA
The Company is an investment platform for offshore wind, subsea and marine contracting services. Oceanteam is currently comprised of two operating segments, Oceanteam Shipping and Oceanteam Solutions. Oceanteam Shipping co-owns, charters and manages two high-end versatile deep-water construction support vessels, active in the offshore wind and subsea segments. Oceanteam Solutions is a service provider to the offshore wind industry with the supply of rental equipment and integrated services for the transportation, storage and handling of subsea cables. Oceanteam has been active in the industry as an offshore solutions provider for over twelve years.

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For further information please contact:
Leidus Bosman
CEO, Oceanteam ASA
T +31 20 535 75 70