Restructured, refocused and ready to go An Oslo Stock Exchange listed shipping company Ticker: OTS CEO: Haico Halbesma CFO: Torbjrn Skulstad 22 February 2011 1
Agenda Company overview: CEO Haico Halbesma Financials: CFO Torbjrn Skulstad Tax, bonds & loans: CFO Torbjrn Skulstad Market Outlook: CEO Haico Halbesma 2
Operational highlights Q4 Restructuring completed Transition to shipping company Vessel 101 interim project completed Started bareboat contract CSV 104 Increased backlog and improved market conditions Increase of deferred…
Financial highlights Q4 EBITDA USD 5.5 million Operating revenues USD 13.1 million Equity percentage 38% 4
Subsequent events Q1 Vessel 101 enters upgrade program and enters contract 1 March 2011 Oceanteam Installer enters two year bareboat contract Vessel 104 completes first Australian project with TS Marine 5
Introducing Oceanteam Shipping 6
Our mission Creating value through: Building a fleet of advanced Construction Service Vessels Providing complex offshore support solutions Integrating seamless engineering know-how and a pool of special purpose support…
The company OCEANTEAM SHIPPING ASA SHIPPING ENGINEERING Ship Owning, Chartering and Ship Engineering Services & Design Management Equipment Solutions 8
Locations Locations Staff Bergen, Head Office, Norway 4 Amsterdam Office, NL 4 Schiedam Engineering Office, NL 120 Dundee Office, UK 5 Monaco Office 4 + marine crew Cd Del Carmen Office, Mexico 5 + marine crew Total 140 + marine…
Key company milestones 2005: - Founded with order of the CSV North Ocean 101 2006: - Listed Oslo Stock Exchange 2007: - Joint Venture with Bourbon Offshore Norway on CSV North Ocean 101 and 104 f - Delivery CSV North Ocean 101…
Fleet CSV Bourbon Oceanteam 101 Ownership Backlog Certified Built 2007 LoA 127m 50 % Oceanteam Shipping ASA Shell Brazil Lta upto 31/12/2010 Beam 27 m Dwt 7.000t 50 % Bourbon Offshore Norway AS Time Charter, BP Angola BV Deck 2000m2…
Uniquely flexible North Ocean CSV-series High-end deepwater offshore construction Building and operational economics tonnage Experienced in house engineering team turn vessels Prepared for the most demanding and into complex and…
Engineering I Oil & Gas Engineering Renewables services Complex Structures Areas of business: Integrated support of Oceanteam Shipping and Client Solutions Integrated support of Oceanteam Joint Ventures and new…
Engineering II Equipment & offshore base Deepwater Offshore & Storage Base, Dundee, Scotland, UK High quality storage of equipment & cable Maintenance & repair services Mobilization base Fabrication ISO 14008:2004 ISO…
Financials 15
Key figures 2010 USD 000 Q4 Q3 Q2 Q1 2 0 10 T o t al o p er at ing r evenues 13 ,1 12 ,9 11,7 9 ,3 4 7,0 Operating costs (5,7) (6,0) (5,4) (4,7) (21,8) EB IT D A 5,5 4 ,4 4 ,1 3 ,0 17,0 16
Tax planning NORWAY OTS has confirmed tax loss to carry forward of USD 117 million (NOK 700 million). The CSV vessel complies to the Norwegian Tonnage Tax regime with approx. 0% tax CSV 101, 104 and 105 are under the NTT regime…
Market players LOA Breadth Built Free Deck Crane 1/ Tonn Crane2 / Tonn Beds Deck Vessel Name Type 120 mtr 25 mtr year 2000 DP 1800m2…
The market ahead H&D Pipelay vessel demand & supply balance 50 45 Demand *) 40 Fleet 35 Age max 35 years Vessel years 30 Age max 30 years 25 20 15 10 5 - 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *)…
Fleet list & charter status Oceanteam Shipping ASA 2011 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 Q1-2 Q3-4 Q1-2 Q3-4 Q1-2 Q3-4 Q1-2 Q3-4 Q1-2 Q3-4 Q1-2 Q3-4 Q1-2 Q3-4 BO 101 time charter North Ocean 102 time…
Focus going forward Operational goals Continue marketing of seamlessly integrated complex operations with CSVs and in-house engineering know-how Initiate construction program of favorable building options: CSV North Ocean 106, 107…
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