Oceanteam offloads interest in Mexican joint venture

Oceanteam offloads interest in Mexican joint venture

Dutch offshore service provider Oceanteam has entered in agreement with Diavaz, its joint venture partner in Mexico, to terminate the structure of DOT Group.

DOT Group was set up by the two companies in 2014 to service the Mexican offshore market. Under the agreement, Oceanteam will sell its 40% interest in the joint venture to Diavaz.

Oceanteam said the decision is in line with its revised strategy to divest non-controlled business.

“After a successful financial restructuring Oceanteam is revisiting its portfolio of activities by positioning itself as an offshore services investment platform. Oceanteam is actively pursuing new business opportunities in the subsea, renewables and oil & gas sectors, whereas future activities must contribute positively to the value of the company,” Oceanteam said.

Oceanteam started a restructuring in 2016 and complete the process last year.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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