Singapore-listed offshore services provider Otto Marine has entered into an agreement for two long-term anchor handling tug supply (AHTS) charter contracts worth USD25.2 million with a large oil and gas company.
The contract was signed by its subsidiary Go Offshore, which will provide two 16,000 bhp AHTSs to the oil company.
According to Otto Marine’s filing to the Singapore Exchange (SGX), the transaction of the contract is expected to have a positive impact on its consolidated earnings per share for the financial year ending 31 December 2015.
In June, the company won a contract worth USD27 million to charter a unit of 238-strong work maintenance vessel to a Southeast Asian offshore vessels operator. The vessel is scheduled for delivery for charter in the third quarter of 2015.
In February Otto Marine secured contracts to charter two platform supply vessels to a global oil major in Australia for 36 months, including options. Total contract value for the period and options for the two vessels is worth approximately AUD80 million (USD64 million).