Otto Marine secures USS14m shipbuilding contract
Thursday, June 9 2016 - 03:03 PM WIB
By Ruli Setiawan
SGX-listed Otto Marine Limited announced on Thursday that its wholly-owned subsidiary, PT Batamec (?Batamec?) had secured a shipbuilding contract worth US$ 14 million for 6500-DWT product tanker from an Indonesian state-owned enterprise.
The tanker, which will be operated in the waters of Indonesia, is expected to be delivered in the second quarter of 2018.
The contract is expected to have positive contribution to the consolidated earnings per share or consolidated net tangible assets per share of the company and the group for the financial years ending 31 December 2017 and 31 December 2018 respectively.
Editing by Benget Besalicto ST