In addition to vessel utilization, Oceanteam's engineering sector report their entry into the high-value modular carousel system market in the second quarter financial results for 2013.

In the engineering division the company reports that it continues to see satisfactory utilization. In the first half year Oceanteam also initiated a further investment program in up to 4.000-ton modular carousel systems, this following an order by LS Cable Korea.

Highlights
· Revenue from operations USD 15.2 million

· EBITDA from operations USD 6.0 million

· Operating profit of USD 2.6 million
· Net finance negative USD 3.5 million

· LS Cable Korea awarded contract for supply of a/o a 4.000 Ton modular carousel system
· 5 year dry docking and upgrade Bourbon Oceanteam 101 completed, duration of 7 weeks
· Engineering segment completed and started up new projects effecting efficiency
· OceanWind is awarded with its first cable storage and handling contracts
 
Oceanteam Shipping ASA (Oslo Stock Exchange: OTS) is an offshore shipping company. Its business is the owning, chartering and managing of Deepwater Offshore Construction Service - and Pipe Lay Vessels. In addition Oceanteam Shipping provides complementary Engineering Services consisting of both Engineering & Design Services and Equipment to support its clients.