Otto Marine Secures Charter for Two PSVs
Singapore’s Otto Marine has secured two long term charter contracts for two PSVs to an oil major in Australia, with the value of the contract worth $64m including options.
The 36-month charter contracts (including options) involve two 4,000-dwt platform supply vessels, which will be deployed in Australia in March-April.
Each of the two contracts secured comprises of a firm charter period and option, adding the total charter tenure of up to 36 months. Total contract value for the firm period and options for the two vessels is approximately $64m.
Otto did not identify the vessels, but the only ships listed on the Clarksons database that match this spec are two new units built at Wuchang SB Group that were slated for delivery in 2015.
With the over 50% plunge in oil prices, investors were cautious with the industry as a whole, said Michael See, Otto’s executive director.
With the latest orders, the group’s net order book stands at approximately more than $400m.
Otto Marine is a leading offshore chartering group, which owns and operates more than 60 offshore support vessels globally and also engaged in specialized shipbuilding, repair and conversion of offshore support vessels (OSV).
