Note 16 - Guarantees

PARENT COMPANY

     

CONSOLIDATED

12/31/2015

12/31/2014

(Amounts in USD 1,000)

   

12/31/2015

12/31/2014

             

-

-

Contractual guarantees to Brazilian Navy

   

1,681

593

   

Guarantees related to tax-disputes, Brazil

   

2,748

 

305,658

106,131

Contractual guarantees Power cable segment

   

305,658

141,315

305,658

106,131

Total guarantees

   

310,087

141,908

Contractual guarantees to Brazilian Navy are issued by Siem Offshore do Brasil SA.
Guarantees related to disputes and ongoing tax-cases have been raised per request from Brazilian tax authorities.
Contractual guarantees provided by Parent are security for clients of Siem Offshore Cotractors GmbH.