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2020-11-30 16:47:17
30 November 2020<br />
<br />
Oceanteam ASA's Vessel Owning Companies agree with Financiers on Extension of
Deferral under the Facility Agreement (the "Facility Agreement") for the Bourbon
Oceanteam 101 and Southern Ocean (the "Vessels")<br />
<br />
Oceanteam and its joint venture partner Bourbon have agreed with the financiers
of the jointly owned Vessels to defer the Q4 instalments for 2020 and in respect
of Bourbon Oceanteam 101 also the Q1 2021 instalment under the Vessels' Facility
Agreement until expiry of the Facility Agreement in 2022 and in addition to the
already deferred earlier instalments of 2020. The deferrals cater for the
reduced utilisation of the Vessels in 2020 due to lower market activity and
extensive class and repair works on the Vessels.<br />
<br />
In November 2020 Southern Ocean has commenced her charter with Fugro for
activities offshore Australia and Bourbon Oceanteam 101 is currently awaiting
finalisation of repairs in Spain. Oceanteam notes ongoing tendering interest
for both Vessels for contracts in 2021 and beyond.<br />
<br />
About Oceanteam ASA<br />
<br />
The Company is comprised of two operating segments, Oceanteam Shipping and
Oceanteam Solutions. Oceanteam Shipping owns, charters and manages deep-water
offshore support vessels. Oceanteam Solutions' focus is to provide its clients
with complete offshore solutions. Oceanteam ASA has been active in the industry
as an offshore solutions provider for over fourteen years.<br />
<br />
For further information about Oceanteam ASA please visit www.oceanteam.no or
contact:<br />
<br />
Henk van den IJssel, CEO, e-mail: henkij@oceanteam.nl<br />
Telephone +31 20 535 75 70