Otto Marine Wins $16.6 Million in Workboat Charter Contracts Off Congo

Singapore-based Otto Marine Ltd announced today that it has secured USD $16.6 million in ship chartering contracts from an undisclosed client for two AHTS vessels.  Both vessels will be operated by Global Workboats Private Ltd and deployed off the coast of Congo.  They will service the offshore oil and gas industry by providing offshore support services to rigs and platforms.

The contracts include a 3-year time-charter contract worth USD $14.8 million for its 7,200 bhp, DP-2 AHTS , “Beluga 2” and a 4-month contract worth USD $1.8 million for its 8,000 bhp AHTS, “Redfish 3”.

Otto Marine now has a total of six offshore support vessels deployed in the African waters. Previous 4 vessels already deployed include two 61 meter utility vessels, one 75 meter MV and a 7,200 bhp AHTS.

Executive Director and Deputy President of Otto Marine, Mr Aw Chin Leng, commented,

Offshore oil and gas sector remains robust in a number of areas in the African waters and the further expansion in Africa bodes well for Otto Marine’s strategy to strengthen the ship chartering arm. Our presence in Africa now boast six offshore vessels and we will continue to leverage on Otto Marine’s unique position in the African waters to gain a stronger foothold there.

In addition to strengthening the position in existing locations, we are also committed to evaluating prospects across new geographical locations.

Captain Mike Kelly, Managing Director of Global Workboats, a 100% owned subsidiary of Otto Marine, specializing in offshore supply vessel operations, commented:

We are scaling up our operations in Africa to meet different clients’ needs with our expanding vessel portfolio. Global Workboats is enjoying an enhanced presence in the region with quality vessels that Otto Marine is providing, and looks forward to the successful completion of projects that Beluga 2 and Redfish 3 are embarking on.

Otto Marine specializes in building offshore support vessels, ship chartering and offers specialized offshore services. They also operate one of the largest shipyards in Batam, Indonesia.

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