Oceanteam Takes Loss In Q1 2015

Oceanteam has posted a moderate loss of USD 0.4 million for the first quarter of 2015.

The company also saw revenue fall from USD 15.1 million to USD 14.3 million in this period.

Oceanteam is comprised of two operating segments, Oceanteam Shipping, which accounts for 46% of company’s revenue, and Oceanteam Solutions which contributes the rest 54%.

The company was affected by low oil prices, however, it believes that in the long-term, exploration and production activities are likely to increase and consequently the demand for large construction support vessels and services is likely to grow.

In spite the delays on many offshore wind farms in Western Europe, Oceanteam predicts the demand for services related to the offshore renewable industry will increase in 2016 and beyond.

Image: Oceanteam Shipping