Attachment 1 - Otto Marine Limited
Attachment 1 - Otto Marine Limited
Attachment 1 - Otto Marine Limited
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OTTO MARINE LIMITED<br />
(Company Registration Number 197902647M)<br />
(Incorporated with limited liability in the Republic of Singapore on 5 September 1979)<br />
MEDIA RELEASE – FOR IMMEDIATE RELEASE<br />
<strong>Otto</strong> <strong>Marine</strong>’s subsidiary deploys<br />
support vessel in Australia on a<br />
long term time charter for<br />
US$15.1 million<br />
<br />
<br />
<br />
To deploy 63 meters Landing Craft in Western Australia to support<br />
Construction and Drilling operations for a firm long term contract with<br />
extension option<br />
Subsidiary, Go Offshore Pty Ltd, is engaged by one of the world’s largest<br />
oil and gas major with established track record in Australia<br />
Building a strong recurring revenue base with good contract-winning<br />
momentum in Ship Chartering division<br />
Singapore, 30 August 2012 – <strong>Otto</strong> <strong>Marine</strong> <strong>Limited</strong>, (“<strong>Otto</strong> <strong>Marine</strong>” or the “Group”), a leading<br />
offshore marine company which specializes in building complex offshore support vessels,<br />
ship chartering and offers specialized offshore services, is delighted to report that it has<br />
secured a long term time-charter contract for its Landing Craft, CS Ann Marie, through its<br />
subsidiary, Go Offshore Pty Ltd (“Go Offshore”) with an extension option.<br />
The contract is expected to generate about US$15.1 million for the minimum scheduled<br />
period of the charter and up to US$18.5 million with options.<br />
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CS Ann Marie<br />
CS Ann Marie is of BV 1 Hull Mach Deck Ship for Unrestricted Service classification,<br />
measures 63.0 meters in length and 14.6 meters in breadth. CS Ann Marie boasts a deck<br />
area of 555m 3 and is capable of 3,885 tonnes of cargo deck load.<br />
Go Offshore will charter CS Ann Marie to a world-class oil & gas major to support its<br />
Construction and Drilling works in North West Shelf of Western Australia.<br />
Executive Director and Deputy President of <strong>Otto</strong> <strong>Marine</strong>, Mr Aw Chin Leng, commented,<br />
“We have been building up a healthy momentum of contract wins in our Ship<br />
Chartering division. This is definitely encouraging as we are gradually reaping the<br />
fruits of our strategy to expand our chartering arm.<br />
We will continue to work towards maximizing our fleet utilization rate by getting more<br />
chartering contracts, and also increasing our presence in key target markets like<br />
Australia and Africa.”<br />
Managing Director of Go Offshore, subsidiary of <strong>Otto</strong> <strong>Marine</strong>, specializing in marine services<br />
to offshore oil & gas industry, Mr Garrick Stanley, commented that “We are honored to<br />
partner with such a prominent and established oil & gas major for this contract. This<br />
is a strong vote of confidence on our execution capabilities. We will work on ensuring<br />
smooth completion of this project and impress upon our customer our dedication and<br />
commitment.”<br />
---- The End ----<br />
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About <strong>Otto</strong> <strong>Marine</strong> <strong>Limited</strong> (OTML.SP)<br />
<strong>Otto</strong> <strong>Marine</strong> <strong>Limited</strong> ("<strong>Otto</strong> <strong>Marine</strong>" or the "Company") is an offshore marine group engaged in<br />
specialized shipbuilding of offshore vessels for primarily Deep Sea applications. The shipbuilding<br />
includes ship repair and conversion. In addition, <strong>Otto</strong> <strong>Marine</strong> is chartering out its own fleet of<br />
sophisticated and environmentally friendly (clean/comfort class) Anchor Handling Tugs and Offshore<br />
Supply vessels for mainly Deep Sea applications. In continuation of its expansion strategy, <strong>Otto</strong><br />
<strong>Marine</strong> is the majority shareholder in the seismic operator, Reflect Geophysical.<br />
Headquartered in Singapore, the Company owns and operates one of the largest shipyards in Batam,<br />
Indonesia - one of the most sophisticated yards in Asia Pacific. The yard is building to DNV and<br />
Norwegian class standards. Its customers are primarily deep sea and offshore operators and<br />
equipment companies who provide logistics support and offshore services to companies operating<br />
globally in the oil and gas industry.<br />
<strong>Otto</strong> <strong>Marine</strong>’s specialized approach has allowed it to build up its expertise in constructing high<br />
specification deep sea and offshore support vessels, improve its production quality and efficiency and<br />
develop a competitive cost structure. This quality and level of sophistication has enabled the<br />
Company - as one of the few in Asia - to gain recognition in the construction of complex and<br />
sophisticated deep sea and offshore vessels.<br />
<strong>Otto</strong> <strong>Marine</strong> was successfully listed on the Main Board of Singapore Exchange Securities Trading<br />
<strong>Limited</strong> (the “SGX-ST”) on 28 November 2008. For more information, please visit the Company’s<br />
website at http://www.ottomarine.com<br />
________________<br />
Issued for and on behalf of <strong>Otto</strong> <strong>Marine</strong> <strong>Limited</strong><br />
For more information please contact:<br />
Financial PR Pte Ltd<br />
<strong>Otto</strong> <strong>Marine</strong> <strong>Limited</strong><br />
Romil SINGH / Sylvia LEE/ Kathy ZHANG<br />
AW Chin Leng / Michael SEE<br />
Email: romil@financialpr.com.sg / Email: chinleng@ottomarine.com /<br />
staff@financialpr.com.sg<br />
michaelsee@ottomarine.com<br />
Tel: (65) 6438 2990 Tel: (65) 6863 2366<br />
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