Otto Marine Pens Two Tugs

The Board of Directors of Otto Marine Limited announced today that one of its subsidiaries has won two Shipbuilding contracts.

PT Batamec shipyard clinched two newbuilding orders from its repeated reputable Indonesian customer to build two 3000 HP Harbour Tugs for a consideration of approximately $9 million.

The Vessels are expected to be completed by fourth quarter of 2014.

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Press Release, November 18, 2013