28 January 2013

OCEANTEAM SHIPPING ASA - ORDER OF NEW 2000T/4000T MODULAR CAROUSEL

Oceanteam Shipping ASA announced today that it has taken up one of its options and ordered a new, OTS design, 2000t modular carousel system, which will be delivered in April 2013.

The new patented OTS carousel series are designed for flexibility and quick mobilisation on standard modern PSV/CSV type vessels with limited deck load capacity for this type of equipment. The modular systems are delivered to the mobilisation site in 40ft containers and can be mobilised without vessel under deck reinforcement requirements. All system components are 'plug and play' and interchangeable. The 2000t carousel is delivered in such a way that it can be extended to a 4000t load capacity carousel in a short period of time.

As a result of this new philosophy the equipment can be transported and mobilised to any port around the world in a cost effective manner using, for example, standard container shipment routes and trucks.

''Based on our successful delivery of the1250t modular carousel in April 2012 and its well-executed projects since, we wanted to fulfil the demand on larger size modular carousels and by doing that cover a full range of solutions, says CEO of Oceanteam Shipping, Haico Halbesma''.

Oceanteam Shipping ASA owns and operates from its deep water base in Velsen, The Netherlands a large pool of carousels, tensioners and burial equipment which its supplies and rents to a broad client base around the world to support offshore cable, pipeline and umbilical installations, transport and storage projects.

About Oceanteam Shipping ASA
Oceanteam Shipping ASA (Oslo Stock Exchange: OTS) is an offshore shipping company.

For more information: www.oceanteam.no

For further information about Oceanteam Shipping ASA please contact:
CEO Haico Halbesma:   +31 20 53 57 570, haico@oceanteam.no
CFO Torbjørn Skulstad: +47 55 10 82 40, torbjorn@oceanteam.no

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.