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Singapore : Otto Marine wins US$10m contract

Publish Date : 17-Aug-2012
Otto Marine Ltd on Thursday said it has secured a US$10.0 million time-charter contract for its maintenance and construction/accommodation support vessel, Seasafe Supporter.

The contract will be for a firm 500 days with an option to extend for two months, said Otto Marine.

The group's wholly-owned subsidiary, Global Workboats, will charter Seasafe Supporter to a Dutch operator which will in-turn deploy the vessel to support offshore works in Gabon, in the west coast of Africa.

"High oil price continues to stimulate E&P activities and demand for offshore support vessels remain encouraging," said executive director and deputy president of Otto Marine, Aw Chin Leng.

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