Otto Marine’s ‘SOC Endeavor’ Secures Chartering Contract in the Persian Gulf

Otto Marine Limited, a leading offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services,  announced that it has secured a ship chartering contract for a firm 180 days, with an option to extend for 3×1 month + 3×1 year for its newly built 75 meters Work Maintenance Vessel.

The contract is expected to generate approximately USD 7.6 million for the minimum scheduled period of the charter and up to USD 57.3 million with options.

The 4,200bhp Work Maintenance Vessel “SOC Endeavor” measures 75×24 meters and is ABS Classified, will be deployed for general maintenance works in the Kuwaiti, UAE and Iraqi waters. The vessel was delivered to charterer in early June.

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Source: Otto Marine, June 18, 2012