Otto Marine Bags $53M AHTS Charter Contracts for Work Offshore Australia

Otto Marine Limited, (Otto Marine or the Group), a leading offshore marine company which owns and operates a large fleet of offshore support vessels, shipyard and offers specialized offshore services, reported Tuesday that the Group has secured time charter contracts with two oil majors for its Deep Water Anchor Handlers, GO Sirius and GO Spica, worth $53 million (AUD 57 million).

Employed in drilling and pre-lay support, the 16,300 brake horsepower (bhp) dynamic positioning 2 (DP2) anchor handling tug supply (AHTS) vessel GO Spica with the 210 tons bollard pull, will be mobilized to Australia for a long term charter off the North West coast of Australia in August. This vessel will be operated by the Group’s wholly owned subsidiary, GO Marine Group (GO Marine).

In addition to the GO Spica, another of the Group’s 16,300 bhp vessel, GO Sirius, has secured term work out of Darwin in support of another oil major. The GO Sirius has been working in Australia for the past two years and has obtained a very good track record with multiple clients in achieving almost seamless back to back contracts in supporting drilling and construction projects.

“The Group has a long and successful track record in working with the oil majors. We are again honored to have been selected and we look forward in maintaining our long standing relationships with this key client. It is with great pride that we see the GO Spica going to Australia to join the GO Sirius as part of our Deep Water support fleet. The Group’s focus is to continue to divest from our smaller tonnage whilst focusing on a Deep Water Anchor Handlers, platform supply vessels (PSV) and inspection, maintenance and repair (IMR) vessels around the world,” Garrick Stanley, CEO said in a press release.

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