Otto Marine Nets Offshore Wind Charter Contract Worth $7.5M


Otto Marine Ltd. says that its wholly owned subsidiary Go Offshore International has secured a chartering contract worth up to $7.5 million to provide a support vessel for an offshore wind development in Southeast Asia.

According to the company, the contract calls for a liftboat equipped with a heavy lift crane used for offshore wind farm installation that can transport and store wind farm structures and consumables.

Under the contract, Go International will manage, man and operate the vessel.

Otto Marine expects this deal to make a positive contribution to the company’s earnings in the financial year ended December.

Otto Marine, an offshore marine group specializing in the subsea and deep sea segment, has three distinct business divisions: shipbuilding of specialized offshore support vessels, ship chartering and specialized offshore services operation.

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