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Backed by strong long term relationships with leading Oil and Gas companies, Otto Marine enjoys a healthy order book that stood at approximately US$450 million as at 30 June 2014, with an average contract tenor of 3 to 5 years. Ultimately, the booming E&P activities, along with the rising OSV demand will enhance the supply-demand dynamics, which is expected to drive up the charter rates. Moving forward, Otto Marine’s primary focus will be placed upon capitalizing on its high growth in markets such as North Sea, Africa and Australasia as well as penetrating into cabotage-protected areas to increase its presence in high-potential regions in Malaysia and Indonesia via key partnership with the GO Marine Group. “The oil and gas sector outlook remains healthy and continue to spur on demand for our offshore support vessels. We believe that vessel chartering services will continue to witness robust demand and as such, our main focus will be placed upon our vessel expansion, upgrades and fleet renewal program to enhance our fleet capabilities in order to meet the needs of our clients and to access different markets.” Mr. Garrick Stanley, Chief Executive Officer. About Otto Marine Limited (OTML.SP) Otto Marine Limited ("Otto Marine" or the "Company") is an offshore marine group which owns and operates a large fleet of offshore support vessels and is engaged in specialized shipbuilding of offshore vessels for primarily Deep Sea application s. The shipbuilding includes ship repair and conversion. Headquartered in Singapore, the Company owns/leases and operates 64 offshore vessels and one of the largest shipyards in Batam, Indonesia-one of the most sophisticated yards in Asia Pacific. The yard is building to ABS, DNV and Norwegian class standards. Its customers are primarily deep sea and offshore operators and equipment companies who provide logistics support and offshore services to companies operating globally in the oil and gas industry. Otto Marine’s specialized approach has allowed it to build up its expertise operating a large offshore fleet and through its shipyard constructing high specification deep sea and offshore support vessels. This quality and level of sophistication has enabled the Company - as one of the few in Asia - to gain recognition as a Marine Services company operating a large deepwater fleet of support vessels with its shipyard focusing on its fabrication, ship repair and building for local content requirements of its clients. Otto Marine was successfully listed on the Main Board of Singapore Exchange Securities Trading Limited (the “SGX-ST”) on 28 November 2008. For more information, please visit the Company’s website at http://www.ottomarine.com 
Image by Otto Marine Otto Marine press release |
Otto Marine secures approximately US$404 million