OCEANTEAM SHIPPING ASA – RELEASE OF Q2 2013 REPORT AND PRESENTATION

OCEANTEAM SHIPPING ASA – RELEASE OF Q2 2013 REPORT AND PRESENTATION

“During the first half year Oceanteam Shipping ASA experienced the full utilization of all vessels except for the planned dry docking and upgrade period for Bourbon Oceanteam 101. In the engineering division the company continues to see satisfactory utilization. In the first half year Oceanteam also initiated a further investment program in up to 4.000 Ton modular carousel systems, this following an order by LS Cable Korea. The modular carousels represent a new and high-value segment for Oceanteam and we are very pleased at the market demand for our innovative, proprietary cable solutions – most recently by the award of a two year contract. Management sees strong markets in all segments and will continue to focus on performance and profitability going forward.”
HIGHLIGHTS FOR THE QUARTER
• Revenue from operations USD 15.2 million
• EBITDA from operations USD 6.0 million
• Operating profit of USD 2.6 million
• Net finance negative USD 3.5 million
• LS Cable Korea awarded contract for supply of a/o a 4.000 Ton modular carousel system
• 5 year dry docking and upgrade Bourbon Oceanteam 101 completed, duration of 7 weeks
• Engineering segment completed and started up new projects effecting efficiency
• OceanWind is awarded with its first cable storage and handling contracts
Please find attached the complete Q2 2013 report and presentation.
OCEANTEAM SHIPPING ASA – Q2 2013 REPORT
OCEANTEAM SHIPPING ASA – Q2 2013 REPORT
Source: www.oceanteam.no
ISSUERS OF NEWS RELEASES AND NOT OILANDGASPRESS.COM ARE SOLELY RESPONSIBLE FOR THE ACCURACY OF THE CONTENT.
Public relations, press release distribution service, investor relations, SEC filing, regulatory news,upstream, downstream,corporate announcements,technology developments and political news
www.oilandgaspress.com – The ‘one stop shop’ for global Oil and gas press releases!!!
Email: info@oilandgaspress.com to let us know about your events and we’ll list them free of charge
Email: info@oilandgaspress.com to Advertise your company’s services and reach thousands of oil and gas industry executives and professionals
Oil and Gas Press

#FOLLOW US ON INSTAGRAM