Oceanteam and Diavaz form new company

MARCH 26, 2014 — Oslo-listed Oceanteam Shipping ASA reports that, together with Mexico's Grupo Diavaz, it has established a new shipping company named DOT Shipping.

Oceanteam, whose business includes the owning, chartering and managing of deepwater offshore construction, pipelaying and fast support vessels, has taken a 40% stake in the new company.

It says that DOT Shipping will focus on providing high-end vessel solutions for the Mexican market and that further details on the new company will be disclosed later.