23 May 2013


Oceanteam Shipping ASA has received the judgement in part one of the case against naval architects Sawicon AS concerning rights connected to the North Ocean 100-series, where the court has found in favour of Sawicon. The judgement only decides upon some of the claims that were brought forward by the parties. Important parts of the case have not yet been decided upon.

Oceanteam will assess the judgement thoroughly and analyse it together with their legal advisers. Oceanteam believes that an appeal is likely, but will spend some time in going through the judgement and carrying out a proper analysis of the court's reasoning and the procedural and factual circumstances the judgement is based on.

Oceanteam Shipping ASA initiated, invested in, and made the development of the North Ocean 100-series possible. Numerous companies have contributed to the series, all acting on the instructions of and compensated by Oceanteam. Oceanteam cannot accept that their business model, investments and efforts are misused by other players in the market, without receiving due compensation.

About Oceanteam Shipping ASA
Oceanteam Shipping ASA (Oslo Stock Exchange: OTS) is an offshore shipping company. Its business is the owning, chartering and managing of Deepwater Offshore Construction Service - and Pipe Lay Vessels In addition Oceanteam Shipping provides complementary Engineering Services consisting of both Engineering & Design Services and Equipment to support its clients.

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.