28 April 2014

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

OceanWind, based in the Netherlands, has been awarded a long term contract to supply Prysmian Powerlink SRL with storage of energy cables and additional preparation services.

At its cable facilities in Velsen Noord, The Netherlands OceanWind will execute the cable handling and provide cable handling equipment. The cables will be stored at one of OceanWind's internal warehouses.

Prysmian is a truly global company and OceanWind is pleased to provide them a storage solution and feels confident that it can be of service for future projects as well. To welcome a company like Prysmian at our facilities once again 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.