OCEANTEAM SHIPPING ASA An Oslo Stock Exchange listed shipping company Ticker: OTS CEO: Haico Halbesma CFO: Torbjrn Skulstad Q3 p presentation Oslo 14th November 2011 1
Agenda Company Overview Financials Market Outlook 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…
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 Oil & Gas Engineering Renewables services Complex Structures Areas of business: Integrated teg ated suppo supportt o Ocea tea S of Oceanteam pp g a Shipping dC and e t So Client ut o s Solutions…
Engineering Equipment Rental & Renewables Offshore Base Deepwater Offshore & Storage Base Base, Dundee Dundee, Scotland, Scotland UK High quality storage of equipment & cable Maintenance & repair services Mobilization base…
Fleet list & charter status 10
Fi Financials i l 11
Operational highlights Q3 All large CSVs in full operation Improved market conditions for large CSVs Continued improved demand for engineering services Oil & Gas Off h Offshore R Renewables bl Satisfactory y equipment q p…
Subsequent events Q3 CLB Oceanteam Installer sold with small profit Non-core asset Settlement reached with renewables operator on contract di dispute t Positive effect on provisions Bank loan on CSV Southern Ocean fully…
Key figures Q3 2011 USD 000 Figures in USD million Q3 2011 Q2 2011 Q1 2011 Total operating p g revenues 16,7 , 16,3 , 12,7 , Operating p g costs ((6,1) , ) ((6,6) , ) ((5,6) , ) EBITDA 7,3 , 6,7 , 4,4 , 15
P&L report end Q3 2011 USD 000 Figures in USD '000 Q3 2011 Q3 2010 Cum 2011 Cum 2010 Revenue 16 738 12 907 45 735 33 856 Total operating revenues 16 738 12 907 45 735 33 856 Operating costs (6 137) (5 976) (18 317) (16 043)…
Balance sheet Q3 2011 USD 000 Unaudited Unaudited Figures in USD' 000 30.09.2011 31.12.2010 Figures in USD' 000 30.09.2011 31.12.2010 Assets Equity and liabilities Intangible assets 19 756 20 852 Total equity 105 736 102 078…
O Market Our M k t 19
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…
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 Assuming max life is 35 years; 10 H&D pipelay vessels are needed H&D Pipelay vessel demand & supply balance p y pp y 60 Demand *) 50 Fleet 40 Age max 35 years Age max 30 years Vessel years 30 20…
Harsh & Deepwater Brazil is main market followed by NW Europe and West Africa H&D reel vessel demand per region 35 Asia Pacific Med & MIE Med. & MIE 30 West Africa Latin America 25 North America No. of vvessel years NW…
Harsh & Deepwater About 7 new H&D reel lay vessels required H&D reel vessel demand & supply balance H&D reel vessel demand & supply balance 35 30 Demand *) Fleet 25 Age max 35 years Age max 30 years Age max 30 years Vessel…
Harsh & Deepwater Lack of capacity from 2013 even without decommissioning H&D support vessel demand & supply balance & suppo t esse de a d & supp y ba a ce 200 180 Demand *) 160 160 Fleet 140 Age max 35 years 120 Age max 30…
Offshore Renewables Global Offshore Wind Farm export cable demand 4,100km E Export t cable bl demand d d by b year 6,000 5,000 Probability export forecast m) e length (km 4 000 4,000 Mid-range export 3,000…
Offshore Renewables Global Offshore Wind Farm Inter-array cable demand Inter-array cable demand by year 2,500 1,650km ength (km) 2,000 Probability inter- array forecast 1 500 1,500 array cable le Mid-range inter- array…
T Tax, Bonds B d & loans l 28
Tax planning p g NORWAY OTS has cconfirmed tax loss to carry forward of USD 144 million (NOK 866 million). The CSV vessels comply with the Norwegian Tonnage Tax regime with approx. 0% tax CSV 101, 104 and 105 are under the NTT…
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 32
A Appendix di Oceanteam Shipping pp g ASA Resources 33
Locations / Operations L Locations ti St ff Staff Bergen, Head Office, Norway 4 Amsterdam Office, NL 5 Schiedam Engineering Office, NL 150 Dundee Office, UK 5 Monaco Office 4 + marine crew Cd Del Carmen Office,, Mexico 5 + marine…
Our Fleet CSV Bourbon Oceanteam 101 Ownership Backlog Certified Built 2007 LoA 127m 50 % Oceanteam Shipping ASA Time Charter, BP Angola BV Beam 27 m 1/3/2011- 31/12/ 2011 Dwt Dwt 7 000t 7.000t 50 % Bourbon Offshore Norway AS Deck…
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 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 2 year…
Oceanteam Equipment Pool Equipment Support and Rental Services Horizontal Reel Systems Tensioning Systems Plough Systems Carousels and Cable Storage Jetting Equipment 41
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