During the first quarter Oceanteam Shipping ASA increased its level of activity with start up of several new contracts for RentOcean, its marine asset services division. The Company increased its strategic ownership in the design engineering firm KCI to 100 % and commenced an investment programme named "The Next Step". The most significant event during the quarter was the founding of a new joint venture named "DOT Shipping" together with Grupo Diavaz to prepare for the expected growth of the market in Mexico.
Grupo Diavaz provides a wide range of integrated services to the Mexican oil company PEMEX and was founded in 1973. This new joint venture company will focus on providing high-end vessel solutions and marine asset services in Mexico.
HIGHLIGHTS FOR THE QUARTER
Please find attached the complete Q1 2014 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,||firstname.lastname@example.org|
|CFO Torbjørn Skulstad:||+47 55 10 82 40,||email@example.com|