Otto Marine Limited confirm the time charter contract of their Platform Supply Vessel (PSV) - 'Sea Frost', for approximately US$8.0 million.
Under the contract, which has recently commenced, Sea Frost has been contracted to support the Atwood Eagle rig located off the coast of Australia for a period of 152 days.
Otto Marine add that the client has the option of extending the contract for an additional two terms based on the same terms and conditions.
Completed in 2013, this vessel is the latest addition to the Group’s fleet, held under subsidiary Go Marine Group Pty Ltd. Measuring 88.8 meters in length, Sea Frost is an 8,600 bhp PSV with 1,025 square meters of deck space, DNV classed and equipped with dynamic positioning 2 (DP2) technology.
Garrick Stanley, Chief Executive Officer, Otto Marine commented: “Ship operating and chartering has been a very important aspect of Otto Marine’s business and will continue to be our main focus going forward. Sea Frost is a part of our efforts to grow and expand our fleet to comprise of a diverse and comprehensive range of vessels with different tonnages. Improving the fleet profile and maintaining a young fleet will be a continual process in the execution of our strategy to be one of Asia Pacific’s leading offshore support vessel charterer.”