Otto Marine secures long term charter contract for its 24,000 bhp AHTS vessel worth US$40 million
Otto Marine Limited, a leading offshore marine company which owns and oper ates a large fleet of offshore support vessels, shipyard and offers specialized offshore services announces that the Group has secured a charter contract for its 24,000 bhp AHTS vessel, Go Pegasus worth approximately US$40 million including options, the company said in its press release.
Go Pegasus will soon be mobilized and deployed to the North Sea where she will work for the summer season before commencing its term contract from September 2014. As part of the contract, the client also has options to extend the contract for an undisclosed period. Construction of Go Pegasus was recently completed at the Group’s Batam yard. Go Pegasus is a Norwegian designed and DNV classed anc hor handling tug supply (“AHTS”) vessel.
Equipped with dynamic positioning 2 (DP2) c apabilities, the VS491, 24,000 bhp AHTS is particularly suited for work in harsh envir onments. OTTO MARINE LIMITED (Company Registration Number 197902647M) (Incorporated with limited liability in the Republi c of Singapore on 5 September 1979) Go Pegasus Page 2 of 2 “We are very happy to have secured a sizeable contr act for Go Pegasus’ maiden project immediately after it joins our fleet. In ad dition to enhancing our fleet profile, Go Pegasus will aid the Group in strengthening our presence in the North Sea and pave the way for future work in the region. This charter contract is a reflection of the strong interest we are receiving globally for vesse ls with this tonnage, and we hope to keep Go Pegasus highly utilized on projects around the world.” Mr. Garrick Stanley, Chief Executive Officer
About Otto Marine Limited
Otto Marine Limited is an offshore marine group which owns and operates a large fleet of offshore support vessels and is engaged in specialized shipbuilding of offshore vessels for primarily Deep Sea applications. The shipbuilding includes ship repair and conversion. Headquartered in Singapore, the Company owns/leases and operates 64 offshore vessels and one of the largest shipyards in Batam, Indonesia - one of the most sophisticated yards in Asia Pacific. The yard is building to ABS, DNV and Norwegian class st andards. Its customers are primarily deep sea and offshore operators and equipment companies who provide logistics support and offshore services to companies operating globally in the oil and gas industry. Otto Marine’s specialized approach has allowed it to build up its expertise operating a large offshore fleet and through its shipyard constructing high sp ecification deep sea and offshore support vessels.
