TECO was founded. We sold technical ship equipment and chemicals for tank cleaning to product and chemical tankers. TECO also acted as agent for Den Sin Cleaning system (high pressure equipment) in Singapore and for a German based company (Esgard) which produced a special coating for ballast tanks and carried out paint work onboard ships while at sea.
TECO carried out its very first independent coating job onboard MT Etillico, a 10.000 dwt chemical tanker owned by Mr. John Fredriksen. TECO also started up in Singapore as ship-chandler and technical ship support, a joint venture between TECO and Barwil (Wilhelmsen Marine Services).
TECO bought 50% of the shares in Den-Sin Cleaning Systems in Singapore. In October the same year TECO went public on the Oslo Stock Exchange
TECO bought 100% of Marine Trans AS (ships spare logistics). The current business model for TECO Coating was developed.
TECO sold all the shares in Den Sin with a fantastic profit, later the same year the TECO invented Marine Provider ASA (an e-procurement company) and joined the hysteric dot.com environment. TECO used Marinetrans as a platform for this event. The company was later taken over by Astrup Fearnley and Exelera.
TECO merged with Strømme Ship Service effective 1 January and changed name to STROMME-TECO ASA. (Eitzen Maritime Services ASA today)
After about one year into the merger, the owners involved agreed to separate. A management buy-out by took place, effective 1st of March 2002.
TECO started its first offshore project.
An IPO was concluded and TECO Coating Services ASA went public on the Oslo Stock Exchange for the second time in 10 years. The office in Dubai was opened.
TECO recorded its highest sales and earnings ever following a hectic year with several large projects.
TECO acquired Unitech Ship Service AS and Uniworld Holding AS. This includes offices Porsgrunn, Norway Rotterdam, Dubai and Singapore. TECO COATING SERVICES ASA changed name to TECO MARITIME ASA. TECO decided to focus on offshore segment.
TECO opens its own recruiting and crewing office in Poland
TECO is delisted from the Oslo Stock Exchange. TECO adds rope access to the list of services we provide and become IRATA probationary members.