Otto Marine Bags OSV Chartering Contract Worth $68m

Maritime Activity Reports, Inc.

March 2, 2016

Image: Otto Marine Limited

Image: Otto Marine Limited

 Singapore’s offshore chartering group Otto Marine  has bagged a OSV chartering contract worth up to $68.5m from an international oil and gas E&P firm.

The charter, inked by Otto Marine’s wholly-owned Go Offshore, is for a 100-tonnes bollard pull OSV for FPSO infield support in the gas field of 40-year life in Australia.
The chartering contract is confirmed for 5 years from May 2017 with the option of an additional 5 year extension.
Michael See, group ceo of Otto Marine, said: “We will continue to enhance the reputation and generate business through advanced planning, which will help us fulfil our charter contracts, maintain our utilisation rates, thus improve the efficiency in our operations.”
For the confirmed period of 5 years, the contract value is A$47.4 million and with the option, the total contract value is A$94.8 million, Otto Marine said.
Maritime Reporter Magazine Cover Feb 2019 - Ferry Builders

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News