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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.

Lee Hong Liang, Asia Correspondent

August 26, 2014

1 Min Read
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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.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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