Oceanteam subsidiary takes stake in newbuild offshore support vessel

Offshore staff

BERGEN, Norway – Oceanteam Shipping ASA has secured an interest in a newbuild offshore support vessel through its joint venture DOT Holdings AS. The transactions results in a partnership and joint vessel ownership with Pacific Radiance Ltd.

Once full closure is reached, the initial interest of DOT Holdings AS is 50%. The investment comes with an option to buy the remaining 50% after a period of seven years against agreed terms. The commercial terms remain confidential.

09/09/2014