Oceanteam CSV Charter Extended to 2018 by Fugro

Maritime Activity Reports, Inc.

November 21, 2013

CSV Southern Ocean: Photo credit Oceanteam

CSV Southern Ocean: Photo credit Oceanteam

Oceanteam Shipping ASA (OTS) confirm the extension of the bareboat charter of their 'CSV Southern Ocean' by Fugro TS Marine Australia until the end of 2018.

CSV Southern Ocean
is a large construction support vessel jointly owned between Bourbon Offshore Norway AS and Oceanteam Shipping ASA.

The owners say that the extension of the bareboat charter will further strenghten their contract backlog and secure future earnings.

The original charter was set to expire at the end of 2015. The commercial terms between the parties remain confidential.

About Oceanteam Shipping

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.

www.oceanteam.no

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