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SINGAPORE : Otto Marine secures 3-yr charter contract worth US$20.8 million
Publish Date : 09-Feb-2012
Otto Marine Limited on Wednesday said it has signed a time charter contract that carries an initial value of US$20.8 million over three years.
The contract has an option to extend for a further 1 + 1 year, bringing the potential value of the contract up to US$35 million.
The 7,200 bhp AHTS with DP class 2 capabilities \'Beluga 1\' vessel will be operated by Global Workboats Private Limited.
It will be deployed off the coast of Nigeria, and be part of a growing fleet of vessels servicing the West African offshore market.
The contract is expected to have marginal contribution to the company\'s FY2012 earnings.
