Search results for: oceanteam

234 results

A list of search results

  • 17 May 2017
    Business & Finance, Equipment, Project & Tenders

    Oceanteam Solutions has been awarded a long-term contract to supply a company that provides cables and systems for energy and telecommunications with port facilities, loadouts and storage of cables at Oceanteam’s own cable storage facility in Velsen Noord, The Netherlands. Furthermore, Oceanteam will accommodate a professional cable handling crew, engineering services and equipment for the […]

  • 12 April 2017
    Business & Finance

    Norwegian-Dutch offshore service provider  said it has reached an agreement with a qualified majority of its bond holders on the main terms of the bond loan concerned. The agreement encompasses the repayment of the bond in full, the extension of the loan maturity and a major adjustment of interest costs concerned. However, it does not […]

  • 28 February 2017
    Business & Finance, Equipment

    Oslo-listed Oceanteam has booked net loss of some $3 million for the forth quarter of 2016. This result compares with $11.1 million loss in the corresponding period in 2015. The Norwegian-Dutch offshore service provider generated $11.2 million in operating revenues, up approximately 3% compared to $10.9 million in the same period last year. Twelve-months 2016 […]

  • 13 January 2017
    Business & Finance

    Oceanteam’s joint-venture partner McDermott will exercise its option to purchase Oceanteam’s 25% ownership in the vessel-owning company North Ocean 105 AS by the end of April 2017. Oceanteam said on Friday that, under McDermott’s main credit facility agreement, it has announced that it is required to do so. McDermott already holds 75% stake in the […]

  • 13 January 2017
    Business & Finance

    Oceanteam said that its joint venture partner McDermott will exercise its option to purchase Oceanteam’s 25 percent ownership in the vessel-owning company North Ocean 105 AS by the end of April 2017. As part of the understanding with its bondholders and that was announced on January 11, 2017, Oceanteam will use the proceeds for repayments of vendors and […]

  • 11 January 2017
    Business & Finance, Operations & Maintenance

    Norwegian-Dutch offshore service provider, Oceanteam, said it has reached an understanding with its bond holders on the main terms of the bond loan. Namely, the company has been in constructive talks with its banks and its bond holders since its financial restructuring announcement in October 2016. “We expect to need another few weeks to finalize […]

  • 13 December 2016
    Business & Finance, Equipment, Project & Tenders

    Oceanteam Solutions has won a contract for engineering and supplying a 4000T and a 2000T turntable for the splicing, storage and multiple loadouts of cables. Furthermore, Oceanteam will accommodate a professional cable handling crew, engineering services and equipment for the complete project. For this newly awarded project, two cables will be delivered and spooled onto […]

  • 10 November 2016
    Business & Finance, Operations & Maintenance

    Oslo-listed Oceanteam has booked net loss of some $600K for the third quarter ended September 30, 2016. This result compares with $6 million loss in the corresponding period in 2015. The Norwegian-Dutch offshore service provider generated $11 million in operating revenues, down approximately 16% compared to $11.9 million in the same period last year. Nine-months […]

  • 24 October 2016
    Business & Finance

    Norwegian-Dutch offshore service provider Oceanteam informed on Sunday it will not meet its interest payments on the senior unsecured bond due on Monday, October 24, 2016.  This information was preceded by Oceanteam’s initial talks with banks last week kicking off the company’s planned capital restructuring. As part of the financial restructuring that was announced on October […]

  • 24 October 2016
    Business & Finance

    The Norwegian-Dutch offshore service provider Oceanteam ASA has informed its bondholders that the company will defer its interest payments on the Senior unsecured Bond due 24 October. The news comes after Oceanteam started initial talks with banks and largest bondholders last week as part of the planned capital restructuring. The company will continue this process with all its bondholders with the […]

  • 24 October 2016
    Business & Finance, Operations & Maintenance

    Oceanteam informed that it will not meet its interest payments on the senior unsecured bond due on Monday, October 24, 2016. As part of the financial restructuring that was announced October 20th 2016, Oceanteam has already entered into dialogues with its banks and largest bondholders. The company said it will continue this process with all its […]

  • 21 October 2016
    Business & Finance

    Oceanteam said it has appointed Wilhelm Bøhn as the company’s interim chief financial officer. Bøhn (48) will head the company’s financial department and in particular lead the current financial restructuring process. Bøhn, who holds an MBA from Columbia University and a BA from the Johns Hopkins University, has been involved in a number of restructurings. “I […]

  • 21 October 2016
    Business & Finance

    Norwegian-Dutch offshore service provider Oceanteam said it is in the process of developing a restructuring plan in order to support the value preservation and financial flexibility while also enabling value creation for its stakeholders. Oceanteam has started talks with its stakeholders to shape its financial restructuring process and improve the financial flexibility in today’s challenging market situation. “The company […]

  • 21 October 2016
    Business & Finance

    Norwegian-Dutch offshore service provider Oceanteam is in the process of developing a restructuring plan that will secure a capital cost and structure and support the company’s financial flexibility.  The company, which is comprised of two operating segments, Oceanteam Shipping and Oceanteam Solutions, said on Friday it has initiated constructive dialogue with its stakeholders to shape its […]

  • 20 September 2016
    Storage

    Oceanteam Solutions has been awarded a long-term contract to supply an Offshore Transmission Owner (OFTO) with port facilities, loadouts and storage of cables at Oceanteam’s own cable storage facility in Velsen Noord, The Netherlands. The transpooling of a cable will be performed by the company’s cable handling crew at the end of this month. The cable will […]

  • 20 September 2016
    Business & Finance, Equipment, Project & Tenders

    Oceanteam Solutions has been awarded a long-term contract to supply an Offshore Transmission Owner (OFTO) with port facilities, loadouts and storage of cables at Oceanteam’s own cable storage facility in Velsen Noord, The Netherlands. The transpooling of the cable will be performed by the company’s cable handling crew end of this month. The cable will be transferred […]

  • 25 August 2016
    Business & Finance, Equipment, Operations & Maintenance

    Norway-based Oceanteam has posted net profit attributable to owners of the company of close to $100 000 for the second quarter ended June 30, 2016, bouncing back from $1.5 million loss same time last year. The Oslo-listed company, comprised of two operating segments, Oceanteam Shipping and Oceanteam Solutions, generated $16.8 million in operating revenues, down […]

  • 24 August 2016
    Business & Finance

    A Norwegian-Dutch offshore service provider, Oceanteam, has announced that the company’s CFO Torbjorn Skulstad will leave the company. Skulstad left on prolonged sick leave back in May. He then in July relinquished his duties due to illness, with Oceanteam’s CEO Haico Halbesma assuming his tasks in his absence. In a statement on Wednesday, Oceanteam said that Skulgad would […]

  • 26 July 2016
    Business & Finance

    Oceanteam ASA and KCI the Engineers have signed a long-term representing and consultancy agreement with OFFCO (Offshore Cooperation) for projects relating to offshore wind installations and cable lay operations in China. According to the agreement, Oceanteam Solutions will provide marine equipment and KCI will provide engineering services for potential projects. “Through Oceanteam’s close co-operation with subsidiary KCI, we can provide OFFCO […]

  • 25 July 2016
    Business & Finance

    Oceanteam Shipping has appointed Holger Reurslag, an experienced offshore energy player with a 25-year career in the offshore construction, drilling and production sector, to the role of the Company Captain. As the Company Captain, Reurslag will be responsible for a wide range of managerial tasks, including the management of the vessel’s crew and the execution of quality, health, safety […]

  • 25 July 2016
    Business & Finance

    Oceanteam Shipping has appointed Holger Reurslag, an experienced offshore energy player with a 25-year career in the offshore construction, drilling and production sector, to the role of the Company Captain. As the Company Captain, Reurslag will be responsible for a wide range of managerial tasks, including the management of the vessel’s crew and the execution of quality, health, safety […]

  • 25 July 2016
    Business & Finance

    Oceanteam Shipping recently welcomed Holger Reurslag as company captain, with 25 years experience in the offshore construction, drilling and production sector. Before accepting new role, Reurslag worked among others for Seadrill and for various international owners and operators of FPSOs around the world, the company said. The company captain will be responsible for a range of (managerial) tasks, […]

  • 7 July 2016
    Business & Finance

    Oceanteam, the Oslo listed offshore service provider, announced that CEO Haico Halbesma is assuming the tasks of CFO until further notice. Current CFO Torbjorn Skulstad has been forced to relinquish his tasks due to illness, the company stated in a press release. Haico Halbesma, who previously worked as the company’s CFO, said: “We had already […]

  • 7 July 2016
    Business & Finance

    A Norwegian-Dutch offshore service provider, Oceanteam, has announced that CEO Haico Halbesma has taken over CFO duties until further notice. Oceanteam said on Thursday that the current CFO, Torbjorn Skulstad has relinquished his tasks due to illness. Halbesma, who has held the position of CFO of the company prior to him becoming Oceanteam’s CEO, said: “We […]

  • 20 April 2016
    Equipment, Project & Tenders

    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. Oceanteam Solutions is supplying engineering services, cable handling crew and equipment for the complete project. A total of […]