Otto Secures Long Term Charter in Australia

Otto Marine Limited, a Singapore based offshore marine company has secured a long term time-charter contract for its Landing Craft, CS Ann Marie, through its subsidiary, Go Offshore Pty Ltd (“Go Offshore”) with an extension option.

The contract is expected to generate about US$15.1 million for the minimum scheduled period of the charter and up to US$18.5 million with options.

CS Ann Marie is of BV 1 Hull Mach Deck Ship for Unrestricted Service classification, measures 63.0 meters in length and 14.6 meters in breadth. CS Ann Marie boasts a deck area of 555m 3 and is capable of 3,885 tonnes of cargo deck load.

Go Offshore will charter CS Ann Marie to a world-class oil & gas major to support its Construction and Drilling works in North West Shelf of Western Australia.

 Managing Director of Go Offshore,   Mr Garrick Stanley, commented :“We are honored to partner with such a prominent and established oil & gas major for this contract. This is a strong vote of confidence on our execution capabilities. We will work on ensuring smooth completion of this project and impress upon our customer our dedication and commitment.”

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Press Release, August 31, 2012