"During the third quarter Oceanteam Shipping ASA saw the full utilization of all vessels and in the engineering division the company increased its marketing and investment activity. The investment programme for the supply of modular carousel systems, towers and tensioning systems is proceeding as planned. Management anticipates strong markets in all segments and will continue to focus on performance and profitability going forward."
HIGHLIGHTS FOR THE QUARTER
· Revenue from operations USD 15.6 million
· EBITDA from operations is positive USD 7.2 million
· Operating profit of USD 3.8 million
· Net finance negative USD 4.4 million
· Completion of dry docking for Bourbon Oceanteam 101
· New contracts awarded for the Equipment & storage division
· Equipment division renamed to RentOcean
Please find attached the complete Q3 2013 report and presentation.
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,||email@example.com|
|CFO Torbjørn Skulstad:||+47 55 10 82 40,||firstname.lastname@example.org|