Otto Marine to Hold Naming Ceremony for ‘Go Phoenix’ (Singapore)

Otto Marine to Hold Naming Ceremony for ‘Go Phoenix’ (Singapore)

Otto Marine Limited, a leading offshore marine company which owns and operates a large fleet offshore support vessels, shipyard and offers specialized offshore services, announces that the Group will be holding a vessel naming ceremony for ‘Go Phoenix’ at Marina Keppel Bay, Singapore, on 6 September 2013.

Norwegian designed and DNV classed, Go Phoenix is a highly complex VS491 24,000bhp Anchor Handling Tug Supply (“AHTS”) vessel which is the second of four of its kind to be built in Asia on a turnkey basis. Counted among the world’s ultra large AHTS vessels, it is a hybrid propulsion diesel electric driven vessel which is environmental friendly and fuel efficient. Equipped with dynamic positioning 2 technology (“DP 2”), fire fighting capabilities and up to 260 tonnes of bollard pull, ‘Go Phoenix’ is capable of operating in harsh environments of oil and gas fields globally.

‘Go Phoenix’ is the second of such vessels to be completed by Otto Marine. The third vessel is expected to be completed next month, while the fourth is scheduled for completion in early 2014. Apart from the North Sea, demand for vessels of these specifications have also picked up in Brazil and Asia Pacific in recent years. Indeed, the first 24,000bhp vessel completed by Otto Marine is deployed in Asia Pacific, and recently completed the rigmove of one of the largest rigs in the region for an oil major.

The Group will focus its shipyard operations on repairs, conversion and fabrication works as shipyard capacity is gradually freed up with the completion of the remaining VS 491, 24,000bhp vessels. With the yard’s strategic location in Batam, Otto Marine is well placed to leverage on the Indonesian government’s requirement for local content and capitalise on the higher level of activities in the offshore and marine industry.

Garrick Stanley, Chief Executive Officer, said: “The completion of Go Phoenix is a momentous occasion for all at Otto Marine, an attestation to the Group’s ability to continuously improve our technical capabilities and to overcome challenges. As we work steadfastly towards the completion of the remaining two 24,000bhp vessels, our focus for the shipyard will be to ramp up operations for ship repair, conversions and fabrication works catering to the healthy level of activities in the region, particularly in Indonesia and Malaysia. We believe our shipyard stands to benefit due to the close proximity to these countries and the requirement for local content in Indonesia.

“In addition, the Group will continue to build on our strength in ship chartering operations. Currently owning one of the largest fleet of offshore support vessels in the Asia Pacific region, we seek to extend our lead with a fleet building program that closely monitors the demand in the global offshore and marine industry to provide a comprehensive, efficient and young fleet for charter. The management team will strive in this direction to steer Otto Marine forward on a path of growth and expansion.

“I am also pleased to welcome Ian Del Rosso to the Group who will head up the GO Marine Group as Chief Executive Officer, supported by the recently appointed Tony Caccamo as Chief Operating Officer. Both gentlemen bring many years of Offshore experience to the Group and will ensure that GO Marine Group continues its success and growth as a leading offshore support vessel and services provider.”

Press Release, September 05, 2013
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