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

Shipbuilding

Two Mooring Tugs Delivered to NSW

Nakilat Damen Shipyards Qatar (NDSQ) has delivered two new Qatari-built mooring tugs to towage operator Nakilat SvitzerWijsmuller (NSW).   The delivery of the

Tank Coating for Navig8 Chemical Carrier Newbuilds

Shipowner Navig8 is progressing application of Interline9001, an advanced cargo tank coating from AkzoNobel’s International marine coating product range, on a series

Lamprell Delivers Jackup Rig to Greatship

Lamprell announced it has completed construction on jackup drilling rig Greatdrill Chaaru, delivering the rig to Greatship Global Energy Services Pte. Ltd.    Greatdrill

Offshore

Maersk Oil Hires Ampelmann Gangway System

After having performed a walk to work (W2W) campaign in the summer of 2014, Motion Compensation Gangways (MCG) developer Ampelmann has again been awarded a contract

Lamprell Delivers Jackup Rig to Greatship

Lamprell announced it has completed construction on jackup drilling rig Greatdrill Chaaru, delivering the rig to Greatship Global Energy Services Pte. Ltd.    Greatdrill

Ensco Announces Cash Tender Offer

Ensco plc announced today that it has commenced a cash tender offer to purchase any and all of its outstanding 3.25% Senior Notes due 2016 (CUSIP No. 29358QAB5).

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1460 sec (7 req/sec)