Batamec secures two shipbuilding contracts
Thursday, September 1 2016 - 02:54 PM WIB
By Ruli Setiawan
SGX-listed Otto Marine Limited announced Thursday that its wholly-owned Indonesian subsidiary, PT Batamec has secured two shipbuilding contracts worth approximately US$8 million for 3200 HP Harbour Tugs from an Indonesian stated-owned company.
The company said in a statement that the vessels, which will be operated in the waters of Indonesia, is expected to be delivered in the fourth quarter of 2017.
It said the contracts are expected to have positive contribution to the consolidated earnings per share or consolidated net tangible assets per share of the group for the financial years ending December 31, 2016 and December 31, 2017 respectively.
Editing by Reiner Simanjuntak