Otto Marine unit wins $9m contract to build vessels
Monday, November 18 2013 - 02:36 AM WIB
Singapore?s shipbuilder Otto Marine Limited announced Monday that its subsidiary, PT Batamec shipyard has clinched two newbuilding contracts from its repeated reputable Indonesian customer to build two 3000 HP Habour Tugs for a consideration of approximately US$9 million.
The vessels are expected to be completed by fourth quarter of 2014.
The above-mentioned shipbuilding orders are not expected to have a material effect on the consolidated net tangible assets per share or earnings per share of the company for the financial year ending 31 December 2013.
Otto Marine owns and operates one of the largest shipyards in Batam. Our customers are primarily major oil companies in the oil and gas industry and fleet operators who provide logistics support to offshore service companies.
Editing by Reiner Simanjuntak