Oslo: Oslo-listed Oceanteam Shipping ended 2014 on the upside.
The Bergen-based deepwater offshore support vessel specialist showed an operating profit of $5.6m and a net result of $0.2m.
Highlights in the fourth quarter included the transfer of a 50 % ownership of their pipelay vessel, North Ocean 102, to offhsore provider J. Ray McDermott of Norway.
In another joint venture, DOT Shipping with Grupo Diavaz from Mexico saw two FSVs newbuilds delivered.
DOT Shipping currently has one large offshore support vessel under construction, which is already booked against a long term time charter. For this vessel DOT Shipping closed a joint venture with Pacific Radiance of Singapore.