OCEANTEAM SHIPPING ASA An Oslo Stock Exchange listed shipping company Ticker: OTS CEO: Haico Halbesma CFO: Torbjrn Skulstad Pareto Conference Oslo 31th August g 2011 1
Agenda Company Overview Market Outlook Financials Tax, Tax Bonds & Loans 2
Oceanteam O t Shipping Shi i ASA Company Overview 3
Our mission Creating value through: Building and operating a fleet of large and advanced CSVs Providing complex offshore support & vessel solutions Integrating engineering know-how know how and a pool of special purpose…
Key company milestones 2005 2006 2007 2008 2009 2010 2011 - Founded with - Listed Oslo - Joint Venture - Acquisition of - Start - Joint Venture - Fully order of the CSV Stock Exchange g with Bourbon KCI Engineering g g restructuringg…
Uniquely flexible North Ocean CSV-series High-end deepwater offshore construction Building and operational economics tonnage g series Configuration flexibility: In-house engineering team Proven quality in the most demanding and…
Engineering I Oil & Gas Engineering Renewables services Complex Structures Areas of business: teg ated support Integrated suppo t o of Ocea tea Shipping Oceanteam S pp g and a dC e t So Client ut o s Solutions…
Inhouse Design & Engineering Capacity e.g. Technip Apache II based on CSV North Ocean 103 9
Engineering II Equipment & Renewables Offshore Base Deepwater Offshore & Storage Base Base, Dundee Dundee, Scotland, Scotland UK High quality storage of equipment & cable Maintenance & repair services Mobilization base…
Our 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 Dwt 7 000t 7.000t 50 % Bourbon Offshore Norway AS Time Charter, BP Angola…
Fleet list & charter status 12
O Market Our M k t 13
rket data DP2 fleet by age North Ocean Series qualified as H&D Reel Lay / Multiservice Vessel No. of vessels Year built Before yp Type 1980 1980-89 1990-99 2000-09 2010 2011-13 Total Lay Barge 8 3 9 2 13 35 Reel Lay Vessels 3 8 2 8 4…
Utilization subsea vessels Vessels built before 1980 are clearly less attractive Utilisation for subsea vessels (DP2+) 110% 100% days basis) 90% Utilisation (300/365 d 80% Before 1980 70% 198089 1990 99 199099…
Harsh & Deepwater pipeline Annual demand growth of about 15% expected to 2015 H&D pipelines forecast per region 7,000 AsiaPacific Mediterranean 6,000 West Africa Latin America 5,000 , North America North America NW Europe…
Harsh & Deepwater pipeline Overcapacity of attractive vessels disappearing from 2013 H&D Pipelay vessel demand & supply balance 50 4 45 Demand *) 40 Fleet 35 Age max 35 years Age max 35 years essel years 30 Age max…
Fi Financials i l 18
Operational highlights Q2 All large CSVs in full operations Improved demand for large CSVs Seasonal equipment q p utilization as anticipated p FOREX fluctuations remain but EBITDA development in line with expectations…
Financial highlights Q2 EBITDA USD 6.7 million, up 52% Operating O revenues USD S 16.3 million, up 28 % Operating PROFIT USD 2.8 2 8 million FOREX effect negative USD 1.2 million Q2 2011 Q1 2011 EBITDA / Revenue %…
Subsequent events Q3 CSV North Ocean 105 hull successfully launched on August 12th Vessel delivery expected early Q2 2012 CSV North Ocean 200 series design completed and IPRs secured CSV North Ocean 200 series building options…
Key figures Q2 2011 USD 000 F ig ur es in U SD millio n Q2 2 0 11 Q1 2 0 11 T o t al o p er at ing r evenues 16 ,3 12 ,7 Operating costs (6,6) (5,6) EB IT D A 6 ,7 4 ,4 TOTAL Q2 TOTAL Q1 Segm ent inform ation SHIPPING…
P&L report end Q2 2011 USD 000 Unaudited Figures in USD '000 Q2 2011 Q2 2010 Cum 2011 Cum 2010 Total operating revenues 16 302 11 661 28 997 21 600 Operating costs (6 568) (5 399) (12 180) (10 475) General & administration (3 060)…
Balance sheet Q2 2011 USD 000 Unaudited Unaudit ed Figures in USD '000 30.06.2011 31.12.2010 Figures in USD '000 30.06.2011 31.12.2010 Assets Equity and liabilities Intangible assets 20 121 20 852 Total equity 97 388 102 078…
T Tax, Bonds B d & loans l 25
Tax planning p g NORWAY OTS has cconfirmed tax loss to carry forward of USD 117 million (NOK 700 million). ) The CSV vessels comply with the Norwegian Tonnage Tax regime with approx. 0% tax CSV 101,, 104 and 105 are under the…
OTS Bond loan OTS A SA ( M N OK) Q4 '10 Q2 '11 Q2 '12 Q2 '13 Q2 '14 Bond loan (400) (400) (400) (400) (400) Call balance ((21)) ((23)) ((57)) ((97)) ((141)) OTS bonds 30 Out st and ing debt deb t ( OB ) ( 3 9 1) (423) ( 4 57) (…
Focus going forward Target market 9 Continued focus on H&D large Construction Support Vessel segment 9 Continued marketing of seamlessly integrated complex operations with CSVs and in-house engineering know-how 9 Continued growth of…
Thank you 29
A Appendix di Oceanteam Shipping pp g ASA Resources 30
Locations / Operations L Locations ti St ff Staff Bergen, Head Office, Norway 4 Amsterdam Office, NL 4 Schiedam Engineering Office, NL 145 Dundee Office, UK 5 Monaco Office 4 + marine crew Cd Del Carmen Office,, Mexico 5 + marine…
Fleet list & charter status 32
Resources CSV Bourbon Oceanteam 101 Built 2007 LoA 127m Beam 27 m Dwt 7.000t Deck 2000m2 Cranes 150t HC HC+ 100t AHC Ownership: 50% Oceanteam Shipping ASA / 50% Bourbon Offshore Norway AS Track record: Feb 2007 Sept 2010…
Resources CSV North Ocean 102 Built 2009 LoA 137m Beam 27 m Dwt 10.000t Deck 2500m2 Cranes 2 x 100t HC Deck equipment 7000t flex lay system 2 x 120t tensioners Ownership: 50% Oceanteam Shipping ASA / 50% J Ray McDermott…
Resources CSV Southern Ocean Built 2010 LoA 137m Beam 27 m Dwt 10.000t Deck 2500m2 Cranes 1 x 110t HC 1 x 250t HC Ownership: 50% Oceanteam Shipping ASA / 50% Bourbon Offshore Norway AS Back log; Fugro TS Marine…
Resources CSV North Ocean 105 Delivery Q1 2012 LoA 137m Beam 27 m Dwt 10.000t Deck 2500m2 Cranes 1 x 400t HC 1 x 100t HC vertical pipelay system Ownership: 25% Oceanteam Shipping ASA / 75% J Ray McDermott Norway AS Back…
Resources FSV Mantaraya + FSV Tiburon FSV WAHOO Build 2006 LoA 33m Beam 8m Deck 150m2 Speed 25 knots Passengers 75 pob Ownership: 100% Oceanteam Shipping ASA Back log; 3 year bareboat contract January 2011 January 2014…
Oceanteam Equipment Pool Equipment Support and Rental Services Horizontal Reel Systems Tensioning Systems Plough Systems Carousels and Cable Storage Jetting Equipment CLB Oceanteam Installer 65mtr x 22 mtr 38
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