Singapore-listed offshore services provider Otto Marine has entered a long-term bareboat charter contract worth USD27 million to charter a unit of 238-strong work maintenance vessel to an offshore vessels operator in Southeast Asia.
The contract is signed by its wholly owned subsidiary, Swordfish 1, and the vessel is scheduled for delivery for charter in the third quarter of 2015.
“The charter is expected to have a positive contribution to the consolidated earnings per share or consolidated net tangible assets per share of the company and the group for the current financial year ending 31 December 2015,” said Otto Marine in its filing to the Singapore Exchange.
Previously, Otto Marine secured contracts to charter two platform supply vessels to a global oil major in Australia for 36 months including options in February. Total contract value for the period and options for the two vessels is approximately AUD80 million (USD64 million).