Oceanteam Shipping ASA announced significant backlog increase in the fourth quarter.

Apart from extending their successful charter for the Southern Ocean until 2018, the company secured important contracts within Oil & Gas and Offshore Renewables, after the completion of an extensive investment program.

The Management of Oceanteam is confident about the growth, performance and profitability of the company, especially after being awarded numerous cable storage and handling contracts.

For this Quarter, Oceanteam Shipping ASA reported a USD 13.8 million revenue and USD 60.3 million for the whole year 2013. EBITDA is USD 27.3 million on an annual level and USD 5 million for the Q4 2013.

Oceanteam also reported an operative profit of USD 2.7 million and Net finance negative of USD 3.6 million.

Oceanteam Shipping ASA is an offshore shipping company, in the business of owning, chartering and managing of Deepwater Offshore Construction Service - and Pipe Lay Vessels . Oceanteam Shipping provides additional client support with complementary Engineering Services consisting of both Engineering & Design Services and Equipment.

Subsea World News Staff, February 13, 2014; Image: Oceanteam