Oceanteam Subsea Services

[baglimit]

there is news on the wire currently regarding OCEANTEAM, norway based, having sold off their 60% holding in OCEANTEAM SUBSEA SERVICES, based in Aberdeen.

can anyone tell me who the buyer is, and who owns the remaining 40%.

thanks.

[James McLauchlan]

They are keeping a lid on the information at present: All you’ll see right now are releases along the lines of…..

Oceanteam ASA has signed Heads of Agreement with a company in the subsea industry for the sale of its 60pct share in Oceanteam Subsea Services Ltd, Aberdeen.

The commercial terms between the parties remain confidential …………… etc.

The sale is expected to be completed within the next few weeks……… etc.

However, I suspect there must be someone reading this that knows the answer.

Just one word would do

[HelpMaBoab]

"However, I suspect there must be someone reading this that knows the answer.

Just one word would do "

Maybees Ayes’ Maybees Naws’.

All will become clear during the next few weeks, Patience folks

Watch the Punch & Judy (aberdeen P&J).

[Kalbo]

Hallin Marine are maybe mobbing on the North Ocean 102 (Oceanteam vessel) which is berthed in the N/E of England at the moment.
Possibly totally unrelated though!!!

[baglimit]

Oceanteam ASA ("Oceanteam" or the "Company") has signed a Letter of Intent (LOI) with a leading company in the offshore oil and gas industry, for long term charter and 50/50 joint (beneficial) ownership in vessel CSV North Ocean 102 as well as a long term charter and 50/50 joint (beneficial) ownership in Oceanteam’s option vessel CSV North Ocean 105 to be built at Metalships, Vigo Spain. The 5 year charter of CSV North Ocean 102 would commence upon redelivery of the vessel following completion of the current ABB charter which is estimated to be in June 2010. The 5 year charter of CSV North Ocean 105 would start upon delivery of the vessel which is expected end 2011. The CSV North Ocean 105 new build project is subject to finance. Upon closing of the transaction Oceanteam would jointly own, control and manage the special purpose ship owning companies with our joint venture partner. Our partner would have the option to purchase the remaining shares in the respective ship owning companies on the 5th anniversary of the closing of the transaction for the CSV North Ocean 102 and completion of the 5 year charter party for the CSV North Ocean 105. The commercial terms between the parties remain confidential and completion of the transactions are subject to due diligence, finance and board approvals. The transaction is expected to have a positive net effect on Oceanteam’s liquidity. Oceanteam will present additional information as soon as the current process has been finalized. The announced LOI is the result of Oceanteam’s changed business focus on long term charter agreements after its recent successful operational and financial restructuring process.

any further thoughts ?

[HelpMaBoab]

Oceanteam ASA have nothing to do with Oceanteam Subsea (OSS), as they have now sold their shares. According to ASA web release.
A rebranding of OSS will no doubt follow soon, with new investment etc.

The NO 102 is contracted to ABB to install the Gjoa power cable installation.
The ROV involvment onboard are 2 Quantums from that old Phoenix Charlie Tomkins new mob…
Also the word is that the 102 will be tied up in Newcastle fully mobbed up until next season with the power cable onboard due to weather limitations.

Expensive

[James McLauchlan]

Unamed source:

Oceanteam Subsea Services is now called Specialist Subsea Services.

60% owned by Acteon (of Norwich, England).
http://www.acteon.com/

Action group appear to have made a few acquisitions over the past years.

[Rons_ROV_Links]

They have a stand on Oceanology International 2010 already – link.
Website http://www.specialistsubsea.net is under construction.

[Savante]

As in Acteon – owner of Seatronics?

[baglimit]

thanks

really appreciate the efforts.

baggy.

[Savante]

So to summarise…….

[James McLauchlan]

Oceanteam Subsea Services is now called Specialist Subsea Services.

60% owned by Acteon (of Norwich, England).
http://www.acteon.com/

[Savante]

spoke to acteon – it’s denied FURIOUSLY!

[James McLauchlan]

Why be so furious about it? If it was utter rubbish they wouldn’t react in that manner would they.

[Savante]

ah, try substitution with the word adamantly instead. It was denied furiously not furiously denied. My mistake

[Author]

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