Oceanteam has settled out of court with naval architecture firm Sawicon relating rights to and use of the North Ocean 100-series vessel design (pictured). The terms of the settlement are confidential.
The Oslo-listed offshore shipping company filed its intellectual property claim against the vessel designer in 2011.
Oceanteam says it is considering taking further legal action against its former board member and shareholder Aksel M Okland of North Sea Shipping. The company claims Okland misused its intellectual property and trade secrets for his own interest, and had a conflict of interest while serving as an Oceanteam board member between 2006 and 2010.
“After five years in the Norwegian courts, the case status was at a point where there were still no final conclusions made on the subject matter of the case. Considering the different priorities of the company, we are pleased to now fully focus on providing offshore solutions,” Haico Halbesma, CEO of Oceanteam, commented on the settlement.
