04 February 2014

OCEANTEAM SHIPPING ASA - JOINT VENTURE OCEANWIND HAS BEEN AWARDED A LONG TERM CONTRACT WITH E.ON FOR CABLE STORAGE

OceanWind, based in the Netherlands, has been awarded a long term contract to supply E.ON Climate & Renewables with port facilities, offloading and storage of cables.

The offloading of the first cables has already been successfully finalized at OceanWind's cable facilities in Velsen Noord, The Netherlands. The cables were transferred from the vessel into a 750T RentOcean carousel. During 2014 there are more cables expected to be stored.

OceanWind is pleased and looks forward to cooperate with E.ON on this project. The award of this contract shows the demand of a cable storage hub, with direct access to the North Sea, and the fully integrated range of services OceanWind offers.

About OceanWind
OceanWind facilitates the submarine cable industry by offering its clients a full and integrated range of services comprising cable storage, cable handling, and cable transport. Our cable facility is situated immediately behind the North Sea locks of IJmuiden, in direct proximity of Amsterdam.

OceanWind is a joint venture between Oceanteam Shipping ASA in Norway and WIND BV in the Netherlands. The equipment utilized for the project is supplied by Oceanteam's 100% owned subsidiary RentOcean.

  For further information about OceanWind:
  Tel                               +31 20 53 57 576         
  Email:                          info@oceanwind.nl 
  Website:                      www.oceanwind.nl

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.