Oceanteam posts higher Q3 profits, eyes Mexico growth
Norway's Oceanteam Shipping posted US$1.78bn profits in the third quarter, up from US$883mn in 3Q13.
Revenues of US$15.4bn were split evenly between shipping operations and services, with the third quarter characterized by full vessel utilization and the launch of its RentOcean division, a marine assets service that rents out lay, burial and storage equipment, the company said.
RentOcean has embarked on two major oil and gas contracts supplying services to firms in Brazil and South Korea.
This year Oceanteam struck up a joint venture with Mexico's offshore oil services firm Grupo Diavaz called DOT Shipping, which will provide vertical integration fleet engineering solutions.
Elsewhere in Latin America, where the firm has a strong long-term backlog, Oceanteam has two fast support vessels operating in Venezuela on charters extended until June 2015.
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News in: Oil & Gas (Mexico)
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The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
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