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    Oceanteam sells CSV North Ocean 103 to Technip

    Vessel & ROV News // June 30, 2009

    Oceanteam ASA has agreed to sell the newbuilding Construction Support Vessel (CSV) North Ocean 103 to Technip for an undisclosed amount. The transaction has been completed through a sale of the shares in the shipowning subsidiary North Ocean III KS.  The vessel is scheduled for delivery in August by Metalships Yard in Vigo, Spain.

    The vessel was already fixed on an eight-year time charter contract to Technip.
    Oceanteam announced on 23 April that the company was in need of around Euros 30 million in new liquidity. The sale of the vessel will help in this respect.

    Said the company: "Oceanteam will continue to explore additional asset sales in order to secure its liquidity needs as well as continue to explore opportunities to realize a restructuring of its balance sheet."

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