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Oceanteam ASA (OTS.OL)

OTS.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Oceanteam posts Q4 net loss of US$ 3.1 million
Tuesday, 28 Feb 2017 02:00am EST 

Oceanteam ASA : Oceanteam reports revenues of US$ 11.2 million in the fourth quarter 2016 . Q4 EBITDA US$ 2.8 million . Net loss of US$ 3.1 million in Q4 of 2016 .Although faced with Q4 net loss, the Dutch-Norwegian offshore service provider is fully on track for future growth, says CEO, Haico Halbesma, who reached an agreement on new terms with its bondholders after 2016 year ending.  Full Article

Oceanteam: McDermott to exercise its option to purchase PLV North Ocean 105
Friday, 13 Jan 2017 07:21am EST 

Oceanteam Asa : Joint-venture partner McDermott will exercise its option to purchase Oceanteam's 25% ownership in vessel-owning company North Ocean 105 AS by end of April 2017 .Oceanteam will use proceeds for repayments of vendors and repurchase of outstanding bonds.  Full Article

Oceanteam reaches bondholders understanding on refinancing
Wednesday, 11 Jan 2017 08:02am EST 

Oceanteam ASA : Reaches understanding with bond holders on refinancing current bond loan agreement . Expects to need another few weeks to finalize talks with bondholders . Says has reached understanding to repay bond in full, to extend loan maturity and to reduce cash interest costs enabling . Says new terms will not include any equity offering by company's current shareholders . Says significant cash compensation will be deferred as part of agreement .There is an understanding for use of proceeds from sale of North Ocean 105 for repayment of vendors and of secured lenders of Oceanteam.  Full Article

Oceanteam: Delivery of CSV Tampamachoco 1 deferred for one year
Friday, 16 Dec 2016 03:21am EST 

Oceanteam ASA : Says its unit, Diavaz-Oceanteam Shipping (DOT), has agreed with seller Pacific Radiance to postpone delivery of CSV Tampamachoco 1 (T1) for one year . Delivery now scheduled for January 2018 . DOT holds option to further delay delivery for another year . Pacific Radiance will absorb additional costs for deferred delivery .Delivery postponed due to ongoing challenging oil and gas market.  Full Article

Oceanteam Q2 EBIT down at $5.3 million
Thursday, 25 Aug 2016 02:27am EDT 

Oceanteam ASA : Q2 total operating revenue $16.8 million versus $19.0 million year ago .Q2 EBIT $5.3 million versus $6.1 million year ago.  Full Article

Oceanteam: CFO Torbjorn Skulstad is leaving
Wednesday, 24 Aug 2016 06:51am EDT 

Oceanteam ASA :CFO Torbjorn Skulstad to leave company as of November 2016.  Full Article

Oceanteam: CEO Halbesma takes over CFO tasks
Thursday, 7 Jul 2016 03:00am EDT 

Oceanteam ASA : CEO Haico Halbesma is assuming tasks of CFO until further notice .Current CFO Torbjorn Skulstad has been forced to relinquish his tasks due to illness.  Full Article

Oceanteam Q1 EBITDA from operations up at $7.9 million
Thursday, 19 May 2016 02:00am EDT 

Oceanteam ASA : Q1 revenue from operations $14.8 million versus $14.3 million year ago .Q1 EBITDA from operations $7.9 million versus $6.9 million year ago.  Full Article

Oceanteam Shipping ASA: Oceanteam Solutions to supply 4000T and 1100T turntables and auxiliary equipment
Tuesday, 19 Apr 2016 10:26am EDT 

Oceanteam Shipping ASA:Oceanteam Solutions has been awarded a contract to supply 4000T and 1100T turntables and auxiliary equipment for the storage, splicing and multiple loadouts of cables to a client at Oceanteam's own base in Velsen Noord, The Netherlands.  Full Article

Oceanteam Shipping reaches settlement over IP infringement proceedings issued against Sawicon
Monday, 15 Feb 2016 02:00am EST 

Oceanteam Shipping ASA:Has reached an out of court settlement over an IP infringement case related to the Oceanteam ASA - North Ocean vessel series, which was filed against Sawicon AS in 2011.The terms of the settlement are to remain confidential, but the company underlines that the settlement will have no negative effect on the company's results, operations and developments going forward.After 5 years in the Norwegian courts, the case status was at a point where there were still no final conclusions made on the subject matter of the case.  Full Article

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