Oceanteam divests its stake in Mexican joint venture

Offshore support vessel provider Oceanteam has decided to divest its stake in a Mexican joint venture company to its Mexican partner Diavaz. 

Oceanteam said on Thursday that it had reached an agreement with Diavaz to terminate the joint venture structure set up by the two groups (the DOT Group), in which Oceanteam held a 40 percent.

The JV was established in 2014 in order to service the Mexican offshore market. Oceanteam’s stake will be taken over by Diavaz.

Oceanteam explained that the decision was in line with the revised strategy of the company to divest non-controlled business.

The company further said: “After a successful financial restructuring Oceanteam is revisiting its portfolio of activities by positioning itself as an offshore services investment platform. Oceanteam is actively pursuing new business opportunities in the subsea, renewables and oil & gas sectors, whereas future activities must contribute positively to the value of the company.”

According to information on Oceanteam’s website, the DOT Shipping fleet consists of two 2014-built fast support vessels, FSV Cobos and FSV Icacos.

This FSV was designed to meet the strict Mexican requirements. The vessel can accommodate 96 passengers with a service speed of 25 Knots. In addition to this, the vessel has a 110 m² clear working deck with a cargo capacity of 40 tonnes, and a structural strength of 2 t/m².

Offshore Energy Today Staff

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