Otto secures OSV charter

Australian charter: Otto has secured a contract to supply an OSV for up to 10 years at a gas field off Australia

Singapore-listed Otto Marine has secured an offshore supply vessel chartering contract worth up to A$94.8 million (US$68.6 million).

The contract with the unnamed client is worth A$47.4 million over an initial five-year period but also contains for an additional five-year extension.

Otto will supply a 100-tonne bollard pull OSV for the charter which will supply floating production, storage and offloading infield support for a gas field off Australia.

“We are delighted to have secured this chartering contract,” Otto chief executive Michael See said.

“The client is a world renowned E&P company and we are pleased to establish a working relationship with them.”

The chartering contract is scheduled to start in May next year.


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