Otto Marine Announces Two Newbuilding Contracts
- Business & Finance
The Board of Directors of Otto Marine Limited announced that its subsidiary, PT Batamec shipyard has clinched two newbuilding contracts from its repeated reputable Indonesian customer to build two 3000 HP Habour Tugs for a consideration of approximately USD 9 million.
The Vessels are expected to be completed by fourth quarter of 2014.
PT. Batamec is situated in the north-west of Batam Island Indonesia and occupies a land area of 71 hectares with waterfront area of 1039 m and mean water level 7m deep.
The yard is involved in Shipbuilding and Ship Repair with Syncrolift facilities, manufacturing and general Engineering for Onshore and Offshore Industries.
Otto Marine, November 18, 2013