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Otto Marine grabs $14.9m charter contract

Otto Marine grabs $14.9m charter contract
Singapore: Offshore marine firm Otto Marine clinched a 450 days time-charter contract worth $14.9m with an option to extend for another 12 months, bringing the potential value of the contract to approximately $20m.

The contract came from a “prominent Mexican offshore platform construction company” for work in the Gulf of Mexico.

“Following a series of chartering contract wins in Africa, India and Australia, we are pleased to announce our first contract to operate in Mexican waters,” said Aw Chin Leng, deputy president of Otto Marine.

“Mexico is shaping up to be a very active market in 2012 and fits well into our strategy to significantly grow the group's geographical presence in this neck of the woods over the next couple of years,” Aw said.

The contract is expected to have positive contribution to the company's financial year 2012 earnings.