OCEANTEAM SHIPPING ASA - ANNOUNCES CORPORATE NAME CHANGE TO OCEANTEAM ASA

As a result of the successful implementation of the Company's diversification
strategy, Oceanteam Shipping ASA as of today has changed its name to Oceanteam
ASA, reflecting the Company's growth in solution driven services.

Since 2005 Oceanteam Shipping ASA has provided offshore shipping services to its
clients globally through the owning, chartering and managing of Deepwater
Offshore Construction Service and Pipe Lay Vessels, Design Engineering and
Equipment Rental Services. While historically operating mainly in the shipping
offshore segment, Oceanteam Shipping ASA a few years ago saw the economic
benefits of diversifying its operations, and therefore, in disciplined manner,
began to implement its new diversification strategy, step by step. Oceanteam has
through its Solutions segment created a successful foundation to lower the
Company's market risk exposure and exploit the economic benefits of other areas
in the value chain.

Oceanteam is today among one of the few companies in the world that combine both
high-end engineering know-how, shipping expertise and equipment capabilities
into a single service. Now is the time for the Company to align its strategy and
operational expertise with its external appearance, and to present a new name
that reflects the Company's core activities and vision. With this measure, the
Company is underpinning its role as a global and unique one-stop-shop and its
commitment to its stakeholders. Oceanteam ASA is confident that despite the
challenging market conditions, the diversified business model will allow the
Company to maintain and improve its performance.


About Oceanteam ASA

The Company is comprised of two operating segments, Oceanteam Shipping and
Oceanteam Solutions. Oceanteam Shipping owns, charters and manages deep-water
offshore support vessels and fast support vessels. Oceanteam Solutions focus is
to provide its clients with complete offshore solutions. This year, Oceanteam
ASA is having its ten year anniversary, celebrating a decade of offshore
solutions.

For more information: www.oceanteam.no

For further information about Oceanteam ASA please contact:

CEO Haico Halbesma: +31 20 53 57 570, haico@oceanteam.no

CFO Torbjørn Skulstad: +47 55 10 82 40, torbjorn@oceanteam.no


This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.





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