Pressreleases
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.
May 28 2021
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”).
May 04 2021
Please find enclosed the minutes of the annual general meeting of Oceanteam ASA held on 4 May 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.
Jan 25 2021
Oceanteam extends storage contract of 100+ kilometres subsea cable with one of Europe’s biggest cabl
The 6 months’ extension follows a successful three years of storage of client’s subsea cables in Oceanteam's 5300Te carousel at its cable storage facility in Velsen, the Netherlands.
With this extension the contract will run well into 2021 with possible further extension options.
With this extension the contract will run well into 2021 with possible further extension options.
Jan 16 2021
CSV Southern Ocean has been awarded a charter contract by Boskalis.
Works on this contract are scheduled to commence in February 2021 for a period of approximately two months.
Works on this contract are scheduled to commence in February 2021 for a period of approximately two months.
Dec 01 2020
Oceanteam Solutions has been awarded a new contract for the transport and rental of a 2000T carousel spread required for umbilical installation in Asia. The mobilisation and departure from Oceanteam’s Velsen yard is planned in December 2020, to deliver the equipment mid Jan 2021 in Shenzhen (China), for umbilical installation during Q1 2021. Project management, engineering and operations will be provided by Oceanteam.
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”)
Sep 04 2020
Reference is made to the minutes from the annual general meeting of Oceanteam ASA published on 7 May 2020.
Aug 27 2020
Oceanteam faced challenging market circumstances during the first half of 2020.
The EBITDA from Shipping segment was below the first half of 2019 resulting from decreased utilisation of BO101.
The Solutions segment showed significant growth which partially compensated the Shipping results.
About Oceanteam ASA
The Company is comprised of two operating segments, Oceanteam Shipping and Oceanteam Solutions. Oceanteam Shipping owns, charters and manages two deep-water offshore construction support vessels. Oceanteam Solutions' focus is to provide its clients with complete offshore cable services.
Oceanteam ASA has been active in the industry as an offshore solutions provider for over fourteen years.
For further information about Oceanteam ASA please visit www.oceanteam.no or contact:
Henk van den IJssel, CEO
e-mail: henkij@oceanteam.nl
Telephone +31 20 535 75 70
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
The EBITDA from Shipping segment was below the first half of 2019 resulting from decreased utilisation of BO101.
The Solutions segment showed significant growth which partially compensated the Shipping results.
About Oceanteam ASA
The Company is comprised of two operating segments, Oceanteam Shipping and Oceanteam Solutions. Oceanteam Shipping owns, charters and manages two deep-water offshore construction support vessels. Oceanteam Solutions' focus is to provide its clients with complete offshore cable services.
Oceanteam ASA has been active in the industry as an offshore solutions provider for over fourteen years.
For further information about Oceanteam ASA please visit www.oceanteam.no or contact:
Henk van den IJssel, CEO
e-mail: henkij@oceanteam.nl
Telephone +31 20 535 75 70
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Aug 10 2020
Lysaker, 10 August 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.
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.
Aug 05 2020
Oceanteam ASA’s Vessel Owning Companies agree with Financiers on Amendment of Facility Agreement (the “Facility Agreement”) for the Bourbon Oceanteam 101 and Southern Ocean (the “Vessels”)
May 06 2020
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.
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.
Apr 08 2020
Oceanteam Solutions has entered into an agreement with a major cable manufacturer to provide cable transportation capability using a cable transportation and handling barge specially equipped for its tasks. The engagement will commence in April 2020 with completion in the first quarter of 2021 and optional extensions to take the contract well into 2021.
Feb 28 2020
Oceanteam Solutions has entered into a three-year agreement for rental of its 4000Te carousel for the ultimate client Global Marine Group. The client has the option to extend this agreement with a total of five years. Start of project will be end of February 2020.
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.
Leidus Bosman, has expressed his intention to resign from Oceanteam and step down as CEO to pursue a new career opportunity outside the Company. The board of directors of Oceanteam extends gratitude to Mr. Bosman for his contribution to stabilise the Company in a crucial period of its development and wishes him well in his new endeavours.
As his successor, the Board is pleased to have Mr. Henk van den IJssel join and strengthen Oceanteam. He brings broad international experience in the offshore oil & gas subsea construction industry and in the offshore wind renewable market. Henk has a proven track record, latest as CCO of the DeepOcean Group and previously with Allseas and Acergy (now Subsea7), with a primary focus on business development, commercial management and strategy.
Leidus Bosman, has expressed his intention to resign from Oceanteam and step down as CEO to pursue a new career opportunity outside the Company. The board of directors of Oceanteam extends gratitude to Mr. Bosman for his contribution to stabilise the Company in a crucial period of its development and wishes him well in his new endeavours.
As his successor, the Board is pleased to have Mr. Henk van den IJssel join and strengthen Oceanteam. He brings broad international experience in the offshore oil & gas subsea construction industry and in the offshore wind renewable market. Henk has a proven track record, latest as CCO of the DeepOcean Group and previously with Allseas and Acergy (now Subsea7), with a primary focus on business development, commercial management and strategy.
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.
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.
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.
Nov 18 2019
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.
Nov 04 2019
The extension follows a successful two and a half years of storage of client’s subsea cables in Oceanteam Solutions' 5300Te carousel at its cable storage facility in Velsen, the Netherlands. With this extension the contract will run well into 2020 with possible further extension options.
Aug 27 2019
The current charter agreement of Bourbon Oceanteam 101 (CSV BO 101) has been extended until mid-November 2019 with possible further extension options until mid Q1 2020.
Jul 12 2019
Oceanteam Solutions secures new contract for supplying carousels and crew for subsea cable transport
Oceanteam Solutions is pleased to announce that it has been awarded a contract for renting out two 2000t demountable carousels, technicians and engineering services to a client within the project logistics segment. The equipment and services will be used for subsea cable transport and loadouts that will take place from October this year until the beginning of next year.
Jul 02 2019
The 6-months extension plus two times 3 months options follows a successful two years of cable storage in Oceanteam’s 1100t carousel at its cable storage facility in Velsen, the Netherlands. This extension is part of a contract that also includes long-term storage of client’s subsea cables in Oceanteam’s 5300t carousel.
Jun 27 2019
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.
Jun 18 2019
Oceanteam Solutions is pleased to announce that it has been awarded a contract for supplying a client with a cable lay spread from May until mid-October 2019, with extension options. The scope includes the hire of one of Oceanteam’s 2000t and 4000t turntables, two 10t tensioners and technicians for operations and maintenance activities.
May 22 2019
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.
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.
Apr 23 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.
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.
Jan 30 2019
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.
Dec 20 2018
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.
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.
Sep 26 2018
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.
Sep 11 2018
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.
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.
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").