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2014-04-28

Oceanteam Shipping ASA: OCEANTEAM SHIPPING ASA - JOINT VENTURE OCEANWIND HAS BEEN AWARDED A LONG TERM CONTRACT WITH PRYSMIAN FOR CABLE STORAGE

OceanWind, based in the Netherlands, has been awarded a long term contract to
supply Prysmian Powerlink SRL with storage of energy cables and additional
preparation services.

At its cable facilities in Velsen Noord, The Netherlands OceanWind will
execute the cable handling and provide cable handling equipment. The cables
will be stored at one of OceanWind's internal warehouses.

Prysmian is a truly global company and OceanWind is pleased to provide them a
storage solution and feels confident that it can be of service for future
projects as well. To welcome a company like Prysmian at our facilities once
again shows the demand of a cable storage hub, with direct access to the
North Sea, and the fully integrated range of services OceanWind offers.

About OceanWind

OceanWind facilitates the submarine cable industry by offering its clients a
full and integrated range of services comprising cable storage, cable
handling, and cable transport. Our cable facility is situated immediately
behind the North Sea locks of IJmuiden, in direct proximity of Amsterdam.

OceanWind is a joint venture between Oceanteam Shipping ASA in Norway and WIND
BV in the Netherlands. The equipment utilized for the project is supplied by
Oceanteam's 100% owned subsidiary RentOcean.

For further information about OceanWind:
Tel +31 20 53 57 576

Email: info@oceanwind.nl

Website: www.oceanwind.nl

About Oceanteam Shipping ASA
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.

For more information:www.oceanteam.no

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|For further information about Oceanteam Shipping 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 |
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This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Oceanteam Shipping ASA via Globenewswire

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