Otto Marine Wins Two AHTS Construction Contracts

Press Release
Sunday, March 10, 2013

Singapore headquartered Otto Marine to build two Anchor Handling Tug Supply (AHTS) vessels for an Indonesian operator.

 The new shipbuilding contracts, with a total value of US$27.8 million are for constructing two identical units of 5,150 bhp Anchor Handling Tug Supply Vessels (or AHTS). The two AHTS will be approximately 62 meters in length and will be constructed to meet ABS class requirements.

The contracts were awarded by an un-named Indonesian operator that owns and operates a fleet of offshore and other vessels. The vessels are to be delivered in the second half of 2014.

Mr Michael See, Group Chief Financial Officer, said: “During the last year or so, we focused our resources under our shipbuilding segment towards finishing and delivering the orders that were on hand. We have also done some restructuring and consolidation in our yard which enhanced our efficiency and reduced the costs. With all these efforts combined, we are now in a much better position to revitalize and grow our shipbuilding segment and securing these new build orders reiterates our commitment to revitalize and focus in our core competency in this segment under the Otto Group. These new orders are the first shipbuilding contracts that we have taken in almost two years. Under our shipbuilding segment, besides building high-spec and complex offshore vessels, we also have ship repair and fabrication capabilities.”

Otto Marine Limited is an offshore marine group engaged in specialized shipbuilding of offshore vessels for primarily Deep Sea applications. Headquartered in Singapore, the company owns and operates one of SE Asia's largest shipyards in Batam, Indonesia.

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Norwegian Car Carriers to Buy Two from Hyundai Samho

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs).

Boatbuilding in China

While much of the focus on coverage of the Chinese shipbuilding industry is on big shipbuilding, Maritime Reporter switches gears this month to explore activities in select boatbuilding sectors.

HMS Prince of Wales Bridge Sets Sail

The bridge section of the second Queen Elizabeth Class aircraft carrier set sail today from Glasgow on its first sea voyage to Rosyth.   Upper Block 07 is where

Offshore

Falklands' Oil Drilling at Isobel Deep Suspended

Oil explorers drilling in the waters north of the Falkland Islands have suspended work on the second well of their 2015 current six-well drilling campaign after a technical problem.

Arctic Nations to Fight Climate Change Despite Russia Tensions

The eight Arctic Council nations pledged on Friday to do more to combat climate change that is shrinking the vast frigid region, with countries trying to put

OSV Technology: Notable Designs & Deliveries

Though the market for Offshore Support Vessels (OSVs) is soft, advances in technology, fit and finish in  the sector is unrivaled in any other maritime niche over the past five years.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1151 sec (9 req/sec)