Oceanteam Shipping ASA - CSV Southern Ocean bareboat extended until end of 2018 Friday, Nov 22, 2013

Oceanteam Shipping ASA (OTS) is pleased to confirm the extension of tha bareboat charter with Fugro TS Marine Australia for the CSV Southern Ocean until the end of 2018. The extension of the bareboat charter will further strenghten Oceanteam's contract backlog and secure future earnings.

The original charter was set to expire at the end of 2015.

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

The commercial terms between the parties remain confidential.

About Oceanteam Shipping ASA

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.