Otto Marine Signs Contracts to Supply 2 AHTS Vessels
By Aiswarya Lakshmi
Thursday, September 3, 2015
Go Offshore, wholly-owned subsidiary of Otto Marine has entered into an agreement for two long-term anchor handling tug supply (AHTS) charter contracts worth USD25.2 million with a large oil and gas company.
The two contracts are in respect of two 16,000 brake horsepower (bhp) large anchor handling tugs supply vessels.
None of the Directors or controlling shareholders of the Company has any direct or indirect interest on the above transaction other than through their respective shareholding interests, direct or indirect in the Company, Go Offshore or Go Marine.
The transaction is expected to have a positive impact on the consolidated net tangible assets per share or earnings per share of the group for FY15.
Otto Marine Limited is an offshore marine group specialising in the subsea and deep sea segment. The Group has three distinct business divisions, shipbuilding of specialised offshore support vessels (OSV), ship chartering and specialised offshore services operation.