An Oslo Stock Exchange listed shipping company Ticker: OTS CEO: Haico Halbesma CFO: Torbjrn Skulstad Q1 2014 Presentation Oslo 22 May 2014 1 OCEANTEAM SHIPPING ASA Q1 PRESENTATION 2014
CAUTIONARY STATEMENT This presentation contains forward looking information. Forward looking information is based on management assumptions and analysis. Actual experience may differ, and those differences may be material. Forward…
AGENDA Company Overview Finance structure: OTS Bond and Equity Financials Market Outlook 3 OCEANTEAM SHIPPING ASA Q1 PRESENTATION 2014
v Company Overview 4 OCEANTEAM SHIPPING ASA Q1 PRESENTATION 2014
OCEANTEAM SHIPPING High-end deep-water Vessels Engineering 140 people Engineering & Modular Carousels, strong Execution Support Specialist Equipment, Storage & Handling Our Mission Creating value through: Integrated services…
COMPANY OVERVIEW ENGINEERING Shipping segment REVENUE USD 6.3M Engineering segment Three CSVs and one LV Backlog USD 36 million Focus on Oil & Gas and Offshore through joint ventures plus Renewables two FSVs Marine Asset division…
SHIPPING Our Fleet CSV Bourbon Oceanteam 101 CSV North Ocean 102 High-end deep-water offshore construction vessels CSV Southern Ocean Proven quality in the most demanding and advanced deep- LV North Ocean 105 water operations FSV…
SHIPPING Charter Status Robust backlog USD 111 million with solid clients 8 OCEANTEAM SHIPPING ASA Q1 PRESENTATION 2014
COMPANY OVERVIEW Highlights fleet and engineering CSV Southern Ocean is 100% consolidated from first quarter CSV Southern Ocean on stand by rate until early March CSV BO 101, North Ocean 102 and North Ocean 105 fully utilised New…
ENGINEERING & MARINE ASSET RENTAL Handling, Transport & Storage Services Offshore Installation Certified Proprietary Designs Equipment Modular & Easy Transport One design concept for onshore & offshore operations 10 OCEANTEAM…
ENGINEERING Equipment Status 11 OCEANTEAM SHIPPING ASA Q1 PRESENTATION 2014
ENGINEERING - Services Design of large buoyancy tanks for the Conversion to a cable lay vessel Sylwin Alpha substation jacket Design Engineering Services, 140 people strong 12 OCEANTEAM SHIPPING ASA Q1 PRESENTATION 2014
COMPANY OVERVIEW Highlights Engineering RentOcean Marine Assets KCI Design Engineering Award & start up of new projects OTS acquired remaining 30% shares KCI, design and awarded long-term contract for engineering services supply of…
FOCUS GOING FORWARD Target markets Growth of Mexico market with DOT Shipping / Grupo Diavaz Market large harsh- and deep-water Construction Support Vessels (CSV) and Pipe Lay Vessels Grow contract backlog and services of RentOcean in…
v Finance Structure 15 OCEANTEAM SHIPPING ASA Q1 PRESENTATION 2014
BOND Debt Maturity Profile EBITDA to date - USD 6.7 million equal 44% of revenue USD MILLION Cash position - USD 12 million (101, 102 & 105 cash level is not on the IFRS line) - In process of refinancing Marine Assets to improve…
EQUITY - Share Price Development Share development: - a small but positive increase 2013 / 2014 FMV developments - Stable value of modern fleet, high-end deep water assets Booked equity - 45% - USD 150 million (after 10% share…
v Financials 19 OCEANTEAM SHIPPING ASA Q1 PRESENTATION 2014
P&L REPORT END Q1 2014 Figures in USD 000 Q1 2014 Q1 2013 Cum Q1 Figures in USD 000 2014 2013 Revenue 12 607 8 120 Revenue 12 607 29 245 Total operating revenues 12 607 8 120 Total operating revenues 12 607 29 245 Net income from…
BALANCE SHEET Q1 2014 Figures in USD 000 31.03.2014 31.12.2013 Figures in USD 000 31.03.2014 31.12.2013 Assets Equity and liabilities Intangible assets 20 942 20 724 Total equity 150 526 108 315 Tangible assets 255 863 139 021…
LARGE TAX DEDUCTIBLE LOSSES Norway OTS has a confirmed tax loss to carry forward of USD 169 M (NOK 1 billion) The CSVs comply with the Norwegian Tonnage Tax regime with approximately 0% tax CSV 101, Southern Ocean and LV 105 are…
v Market Outlook 23 OCEANTEAM SHIPPING ASA Q1 PRESENTATION 2014
EUROPEAN OFFSHORE WIND MARKET OUTLOOK Overall renewable market is expected to grow. This leads to increased demand for support vessels and associated services Trend: (German) market shows installation gap between 2018-2022…
Average annual demand growth expected to be 12% in the H&D surf market in period 2013-18 H&D Infield pipeline forecast per region 3,000 Asia-Pacific Mediterranean 2,500 West Africa Latin America 2,000 North America NW Europe…
Balanced demand and supply outlook for Harsh & Deepwater vessels H&D pipelay & support market forecast 300 120% 250 100% Vessel years (300 days basis) Idle Other demand Utilisation (300/365 basis) 200 Opex Capex 80%…
Newbuild orders picked up in 2013 Newbuild orders for pipelay & subsea support vessels 12 Multiservice 10 Diving Support ROV Support 8 Pipelay No. of units Derrick Pipelay 6 4 2 0 Mar May May Mar…
Detailed segmentation of the H&D fleet No. of vessels Year Type Length 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Lay Barges…
Average demand growth for H&D pipelay vessels expected to be 10% up to 2018 H&D pipelay vessel demand per region 70 Transit 60 Asia Pacific Med. & MIE Vessel years (300 days basis) 50 West Africa Latin America 40 North…
Demand for H&D support vessels expected to grow 9% p.a up to 2018, and about 25 vessels lacking in 2018 Global H&D support vessel forecast 250 120% Idle Other 200 Opex 100% Utilisation (300/365 days basis) Vessel years (300…
GOING FORWARD - Checklist for September 2014: Enhancement and pricing of equity instrument Continued focus on high quality assets and balance sheet New investments in high quality assets utilizing the clean capital structure Risk…
THANK YOU Oceanteam Shipping ASA Corporate Headquarters Tveitarsveien 12 T +47 55 10 82 40 PO Box 463, Nesttun F +47 55 10 82 49 5853 Bergen E infooceanteam.no Norway WWW.OCEANTEAM.NO 32 OCEANTEAM SHIPPING ASA Q1 PRESENTATION…
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