During the first quarter Oceanteam Shipping ASA, a Norway-based offshore services company, 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 programme has significantly strengthened the company’s management team and structure. Oceanteam has underwritten the programme with a convertible loan facility.
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
Complete Q1 2014 Report
[mappress] May 22, 2014