Otto Marine lands first new orders in two yearsOtto Marine lands first new orders in two years

The two 5,150 bhp newbuildings are worth a total of $27.8m. The contracts were awarded by an unnamed Indonesian operator that owns and operates a fleet of offshore and other vessels.

The AHTS vessels are scheduled to be delivered in the second half of 2014.

“During the last year or so, we focused our resources under our shipbuilding segment towards finishing and delivering the orders that were on hand. We have also done some restructuring and consolidation in our yard which enhanced our efficiency and reduced the costs,” Michael See, group cfo of Otto Marine.

“These new orders are the first shipbuilding contracts that we have taken in almost two years. Under our shipbuilding segment, besides building high-spec and complex offshore vessels, we also have ship repair and fabrication capabilities,” See said.