Otto Marine secures new contracts
Friday, March 22 2013 - 04:45 AM WIB
SGX-listed Otto Marine Limited, a leading offshore marine company said on Friday that PT Batamec, its Indonesia-based shipyard, has secured contracts to fabricate, assemble and deliver four pre-erected columns and pontoon blocks worth a total of S$6.3 million.
Secured from a renowned Singapore-based customer, these contracts are a significant milestone in Otto Marine?s bid to expand and to strengthen its shipyard operations and presence in the robust offshore oil and gas industry in the region.
The company, which specializes in building complex offshore support vessels, ship chartering, ship repair, and conversion and fabrication services, said in a press statement on Friday that the fabrication and assembly of pre-erected columns amounts to a contract value of S$2.7 million, while the pontoon blocks amounts to a contract value of S$3.6 million. Both projects are scheduled for delivery in June 2013.
?After a thorough restructuring and consolidation of our shipyard operations over the past years, we?re now better prepared to maximize our capabilities in shipbuilding, ship repair and conversion and fabrication,? the company stated.
Since the beginning of 2013, the company has made further progress in building its order book, and these contracts serve as an encouragement to push harder to do more.
Editing by Benget Besalicto Tnb.