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OCEANTEAM SHIPPING ASA

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Options due in 2013/14<br />

Harsh & Deepwater pipelay vessel market<br />

- No overcapacity from 2013<br />

Vessel years<br />

50<br />

45<br />

40<br />

35<br />

30<br />

25<br />

20<br />

15<br />

10<br />

-<br />

5<br />

H&D Pipelay vessel demand & supply balance<br />

Demand *)<br />

Fleet<br />

Age max 35 years<br />

Age max 30 years<br />

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015<br />

*) 300 days basis<br />

All overcapacity within the DP2+ pipelay market is within the S&B segment<br />

28

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