Otto Marine Secures 2nd Gig with Unnamed Port Operator

Otto Marine’s wholly-owned subsidiary, Go Offshore has entered into an agreement with an undisclosed port operator, to become the latter’s preferred offshore and marine service provider.

Under the deal, GO Offshore will be the preferred service provider of the port operator’s marine or offshore vessel needs.

As the preferred provider, GO Offshore will be given the right of first refusal to offer and provide services using one or more of its vessels.

 “As the oil prices continue touching new lows and recovery for the offshore and marine industry remains remote, we are exploring all feasible opportunities to optimize revenue stream. Further to our announcement earlier on the partnership with a renowned port operator to explore the potential development of a fabrication & marine facility, we are pleased to see that GO Offshore becomes this partner’s preferred offshore and marine service provider,”Michael See, Group CEO said.

According to See, the port operator has extensive business scope including logistics support, local and interstate transport, and equipment supply, “which would offer significant business opportunities for Go Offshore, and enhance the utilization rate of our fleets and capabilities. ”

Go Offshore provides vessels management, marine consultancy, offshore crewing, rig moving and all associated services to the Australasian offshore oil and gas industry.