Otto Marine Bags $25M Charter Contracts for 3 Offshore Support Vessels

Otto Marine Limited, an offshore marine company which owns and operates a large fleet of offshore support vessels, shipyard and offers specialized offshore services, announced Thursday that the Group has secured a charter contract amounting to $24.9 million for three offshore support vessels.

Commencing May 2014, Redfish 4 will be deployed for work on long term charter in Mexico. Redfish 4 is an 8,000bhp (brake horsepower) Anchor Handling Tug Supply (AHTS) vessel equipped with dynamic positioning 2 capabilities (DP2).

Also commencing in May 2014 for work in Mexico, the Go Canopus was contracted on long term charter. Built in 2009 with DP2 technology, the Go Canopus is a 10,800bhp AHTS vessel.

Last but not least, the Go Altair was contracted for short term towage project from Singapore to West Africa. The Go Altair was built in 2008, and is a 5,150bhp AHTS with dynamic positioning 1 capabilities (DP1). She is being strategically located to the West African market.

“Over the past few years, Otto Marine has established itself as a shipping focused company. Going forward, our intention is to entrench our position in the industry with a diverse and comprehensive fleet of offshore support vessels to suit the varying needs of our customers. We undertake a periodic review our fleet profile to maintain an average age of below 10 years. Monitoring the pulse of the offshore and marine industry closely to assess the scale and type of OSV demand, we hope to expand our fleet to be one of the leading OSV charterers in the region," Otto Marine CEO Garrick Stanley said.


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