Brief: Oceanteam H1 EBITDA From Operations Down At $1.8 Mln

Oceanteam ASA

27/08/2020 09:21

Aug 27 (Reuters) - Oceanteam ASA  OTS.OL :
    * SOLUTIONS SEGMENT SHOWED SIGNIFICANT GROWTH WHICH
PARTIALLY
COMPENSATED SHIPPING RESULTS.
    * CHALLENGING MARKET CIRCUMSTANCES DURING FIRST HALF OF
2020.
    * H1 EBITDA FROM OPERATIONS  $1.8 MILLION VERSUS $5.6
MILLION YEAR
AGO
    * H1 TOTAL OPERATING INCOME $6.6 MILLION VERSUS $10.5
MILLION YEAR
AGO
    * DUE TO PESSIMISTIC MARKET OUTLOOK FOR 2020, 2021 NEAR
FUTURE FOR
GROUP REMAINS CHALLENGING, CERTAINLY FOR SHIPPING SEGMENT
    * IS REVIEWING ALL POSSIBLE SCENARIOS FOR ITS FLEET; FROM
LAYUP
AND EMPLOYMENT ON ALTERNATIVE MARKETS TO VESSEL SALE
    * OCEANTEAM - PLANS FURTHER DISCUSSIONS WITH LENDERS FOR
EFFECT
DOWNTURN IN OFFSHORE SHIPPING HAS ON GROUP REVENUE AND ITS
ABILITY TO COMPLY WITH QUARTERLY LOAN REPAYMENT OBLIGATIONS

Source text for Eikon:  ID:nObiBJDrya 
Further company coverage:  OTS.OL 

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