Otto Marine's Subsidiary Wins $27M Deal to Supply Work Maintenace Vessel

Otto Marine Limited, a Singapore-based offshore marine group specializing in the subsea and deepsea segment, reported Thursday that a subsidiary of the company has secured a $27 million contract for the provision of an offshore vessel.

Swordfish 1 Pte Ltd., a wholly-owned unit of Otto Marine, had entered into a long term bareboat charter contract with an unnamed offshore vessels operator in Southeast Asia for a 238-men Work Maintenance Vessel.

Otto Marine indicated that the vessel will commence work for the charterer in the third quarter of 2015, the company said in an announcement on the Singapore Exchange.

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