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HomeMaritime NewsRegionsAsiaOtto Marine seals time charter contract

Otto Marine seals time charter contract

Otto Marine seals time charter contract
Singapore: Otto Marine clinched a ship chartering contract worth up to $57.3m from its newly built 75 metres, 4,200 bhp work maintenance vessel for general maintenance works in the Kuwaiti, UAE and offshore Iraqi waters.

Singapore-listed Otto Marine has sealed a $7.6m time charter contract for a firm 180 days. An option is offered for 3 x 1 month + 3 x 1 year that would boost the contract value to $57.3m.

The vessel SOC Endeavour was delivered to the charterer in early June.

“We will continue to aggressively build Otto Marine's chartering earnings and the expansion of our chartering program,” said Aw Chin Leng, executive director and deputy president of Otto Marine.

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