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Otto Marine: Wins US$21.0 Million Charter Contracts For Go Explorer

Otto Marine Limited,, a leading offshore marine company which owns and operates a large fleet of offshore support vessels, shipyard and offers specialized offshore services, is pleased to announce that the Group has secured charter contracts for its Multiple Purposes offshore Supply Vessel ("MPSV"), Go Explorer, for a total of US$21.0 million.

Go Explorer will initially be deployed to work in Vietnam follow by Australia working on a major offshore construction project based on the various contractual arrangements.

The MPSV is a 3200 dead weight tons Multiple Purposes offshore Supply Vessel ("MPSV") and was built in Otto Marine's shipyard in 2012. The vessel is Norwegian MT6009L design, dynamic positioning 2 and classed by Norwegian DNV Class, It is clean/comfort design with
66 cabins and is equipped with 2 remotely operated vehicle hangars and a 25 ton offshore crane.

Go Explorer

Type: 3200dwt MPSV Class: DNV

Dynamic Positioning System: DP2

"Australia has a very active oil and gas exploration market with many large scale projects ongoing. There are many opportunities for growth, and we are happy to see that we continue to entrench our presence there. Apart from extending our lead in Australia, the Group is also looking to expand in other markets. We currently have 2 vessels deployed in Vietnam waters now, and are actively trying to build our presence there." Mr. Garrick Stanley, Chief Executive Officer
Source: Otto Marine Limited (OTML.SP)