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Otto Marine wins $53m charter contracts for two AHTS vessels

Otto Marine wins $53m charter contracts for two AHTS vessels
Otto Marine has secured time charter contracts worth AUD57m ($53m) with two oil majors for two of its deepwater AHTS vessels.

The 16,300-bhp, DP2 vessels GO Spica will be mobilised to Australia for a long term charter off the North West coast of Australia within this month.

Another 16,300 bhp vessel GO Sirius has secured term work out of Darwin in support of another oil major.

The GO Sirius has been working in Australia for the past two years with multiple clients on back-to-back contracts supporting drilling and construction projects.

“The group has a long and successful track record in working with the oil majors,” said Garrick Stanley, ceo of Singapore-listed Otto Marine.

“The group’s focus is to continue to divest from our smaller tonnage whilst focusing on deepwater anchor handlers, PSVs and IMR vessels around the world,” Stanley added.

Meanwhile, Otto Marine announced yesterday that it is exploring options to venture into the subsea business, and has appointed UOB Kay Hian to advise on strategic options.