Search results for: Otto Marine

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  • 27 April 2015
    Business & Finance, Operations & Maintenance

    Singapore-based oilfield services firm, Otto Marine, informed that a creditor of the company has filed a winding up application with the Singapore High Court to wind up the Company. The Court has made directions for the application to be heard on 15 May 2015. The total sum claimed against the Otto Marine, pursuant to the application […]

  • 8 June 2016

    Singapore-listed offshore vessel provider Otto Marine has finally revealed the identity of the company aiming to take over its business. A week after it was first reported that Otto has been deemed a takeover target by a company advised by RHB Securities Singapore, Otto Marine on Wednesday revealed that the company in question is Ocean […]

  • 6 June 2016

    Following last week’s reports that Otto Marine, a Singapore-based provider of offshore vessels for the oil and gas industry, was a target for a potential takeover, the company is yet to receive a formal offer. To remind, Otto Marine was last week approached by RHB Securities Singapore Pte Ltd (RHB), the financial adviser to the […]

  • 10 August 2016
    Business & Finance

    Singapore’s offshore marine group Otto Marine has launched arbitration proceedings against a charterer that failed to pay hire for two vessels.  Otto Marine said on Wednesday that two of its subsidiaries, Swordfish 5 Pte Ltd and GO Offshore, have each started the proceedings under the London Maritime Arbitrators Association Terms 2012 against Vettal Mega Services, a provider of maritime operations and […]

  • 2 February 2011
    Business & Finance

      Otto Marine Limited, (“Otto Marine” or the “Group”), a leading offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services,  announces that its wholly-owned subsidiary, Otto Ventures Pte Ltd (“OVPL”), has signed a deal with Go Marine Group Pty Ltd (“Go Marine”) that gives OVPL the […]

  • 31 March 2011
    Business & Finance

      Otto Marine Limited, , a leading offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services, announces that its shipbuilding arm and wholly-owned subsidiary, Otto Offshore Limited has entered into a sales agreement to sell two 8,000 bhp AHTS to a third party at a market […]

  • 16 May 2012
    Business & Finance

    Otto Marine Limited, an offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services, announced that it has secured ship chartering contracts worth a total of US$16.6 million for two AHTS vessels in the African waters. The Group has secured a 3-year time-charter contract worth US$14.8 million […]

  • 2 March 2016
    Business & Finance

    Otto Marine, an offshore chartering group, has announced that its subsidiary GO Offshore, has been awarded a chartering contract worth up to AUD94.8 million ($68.5M). The vessel under the charter will be a 100-tonne Bollard Pull offshore support vessel (OSV), for FPSO infield support in the gas field of 40-year life in Australia. The client […]

  • 16 August 2016

    Singapore’s offshore vessel builder and charterer Otto Marine has started arbitration against its Mexican client over unpaid charter fees for the Oranda 1 offshore vessel. Otto Marine said the arbitration proceedings were initiated by its subsidiary Karp Marine against the charterer Grupo Evya. The vessel owner claims Grupo Evya has failed to pay hire and […]

  • 7 December 2015
    Business & Finance

    Otto Marine Limited, an offshore chartering group, has secured a long-term bareboat charter contract worth $26 million. The charter is for a 238-men, DP2 Work Maintenance Vessel that measures 85 meters in length and 23 meters in width. It has a clear deck area of 635 m2, and is equipped with a deck crane of […]

  • 12 December 2011
    Business & Finance

    Otto Marine Limited, offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services, announces that it has sold a 40 meters Anchor Handling Tug (AHT), “SWORDFISH 3” to its joint venture company, Otto Limin Marine Private Limited. “SWORDFISH 3” has been completed at Otto Marine’s yard in […]

  • 2 June 2016
    Business & Finance

    Singapore-based offshore marine company Otto Marine Limited said today that an undisclosed party is looking to buy the company.  Namely, the company has received a letter from RHB Securities Singapore acting as a financial adviser of an unnamed buyer and informing that that buyer is interested in the purchase of Otto Marine’s shares. RHB said it will submit […]

  • 13 February 2012
    Business & Finance

    The Board of Directors of Otto Marine Limited announced that the Company’s subsidiary has today sold an accommodation and work barge to an unrelated party for the sum of approximately US$28.4 million. 95% of the Purchase Consideration has been paid by the Buyer with the remaining 5% to be paid upon physical delivery of the […]

  • 3 September 2015
    Business & Finance

    Otto Marine Limited, an offshore marine company, has entered into two long-term charter contracts worth approximately $25.2 million. The Singapore-based Otto Marine said that it would charter two 16,000bhp large Anchor Handling Tugs Supply vessels (AHTS) to a “large oil and gas company”. The contract was signed through Otto Marine’s subsidiary, Go Offshore Pty Limited. Go […]

  • 5 September 2013
    Business & Finance

    Otto Marine Limited, (Otto Marine) 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 […]

  • 3 February 2014

    Otto Marine Limited,  an owner and operator of  a large fleet of offshore support vessels and specialized provider of offshore services, promoted Mr. See Kian Heng, Michael to Group Executive Director. Mr. See has more than 20 years of experience in finance, human resources and general management of public listed companies in Singapore and overseas. […]

  • 18 March 2013
    Business & Finance

    Otto Marine Limited, an offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services, has announced a number of changes to its key management to strengthen its shipbuilding capability further. On 15 March 2013, Mr. Aw has voluntarily resigned from his position as Executive Director and Deputy […]

  • 18 March 2013

    Otto Marine Limited has announced a number of changes to its key management to strengthen its shipbuilding capability further. On 15 March 2013, Mr. Aw has voluntarily resigned from his position as Executive Director and Deputy President due to personal reasons. Mr. Aw was previously responsible for the general management of all shipyard activities and […]

  • 22 February 2016
    Business & Finance

    In light of a slow oil and gas market, the Singapore-based shipbuilding company Otto Marine has decided to expand its portfolio and turn to other shipbuilding segments. Namely, the offshore shipbuilder has secured three newbuilding contracts for an oil tanker and two ferries, worth a total of USD 23 million. The 6,500 long tons deadweight (LTDW) product oil tanker […]

  • 12 December 2011
    Business & Finance

    Otto Marine Limited, an offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services,has sold a 40 meters Anchor Handling Tug (AHT),  “SWORDFISH 3” to its joint venture company, Otto Limin Marine Private Limited (“JV Company”). “SWORDFISH 3” has been completed at Otto Marine’s yard in Batam […]

  • 21 August 2013
    Business & Finance

    The Board of Directors of Otto Marine Limited announced that its 90% owned subsidiary, Go Marine Ship Management (S) Pte. Ltd., has entered into a Shares Sale Agreement with Messrs. Noor Haizam Bin Wasir and Mohd Azmy Bin  Khosne on 19 August 2013 to acquire 49% of the total issued shares in Expro Synergy Sdn. […]

  • 2 June 2016
    Business & Finance

    An unnamed firm is looking to buy Singapore’s Otto Marine, an offshore marine group specialising in the subsea and deepsea segment.   Otto Marine revealed on Thursday it has received a letter from RHB Securities Singapore, a financial advisor to a potential buyer, in connection with a potential transaction. “On behalf of the Offeror, we would […]