Deep Sea 1 - Otto Marine Limited

OTTO MARINE LIMITED
(Company Registration Number 197902647M)
(Incorporated with limited liability in the Republic of Singapore on 5 September 1979)
MEDIA RELEASE – FOR IMMEDIATE RELEASE
Otto Marine’s deep-water AHTS,
“Deep Sea 1”, receives globally
recognised DNV class certification
The vessel is a highly sophisticated 21,000 bhp AHTS that is built to North Sea
specifications
The Group has another 3 sister vessels due to be delivered over the next one year
Reinforces the Group’s position as a niche shipbuilder of complex vessels in the
region
Singapore, 23 June 2011 – Otto Marine Limited, (“Otto Marine” or the “Group”), a leading
offshore marine company which specialises in building complex offshore support vessels,
ship chartering and offers specialised services, is pleased to announce that its vessel with
hull number 7047 named “Deep Sea 1”, has obtained the much coveted maritime class
certification from Det Norske Veritas (“DNV”) on 20 June 2011.
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This vessel is one of the four
identical AHTS penned by Mosvold
in 2007. Hull number 7047 is a
powerful 21,000 bhp AHTS with
hybrid propulsion, fitted with
Dynamic Positioning capable of all
types of towing and anchor
handling activities. Notably, it is
built to North Sea specifications
that enable the vessel to weather
harsh sea conditions. The Group
expects the remaining 3 vessels of
the same design to be successfully
delivered over the next one year.
“This vessel adopts the latest VS491 design from renowned Norwegian ship
design house Vik-Sandvick – now renamed Wartsila Design. Otto Marine is proud
to be the first Asian yard that has built and completed the sophisticated VS491
AHTS on a turnkey basis.
We have reached this development stage purely through internal funding. With the
receipt of this globally recognised DNV certification, we can look towards
sourcing for financing avenues to improve the Group’s cash position necessary

for our corporate strategies. There is already a healthy level of market enquiries to
purchase or charter this vessel. We are currently in the process of assessing and
evaluating both options, while we remain committed to maximizing shareholders’
returns as well as keeping in mind the cash flow requirements of our operations.
I believe we have taken one step closer to putting overhanging issues behind us
and marching towards a much better future.”
About Otto Marine Limited (OTML.SP)
Mr Lee Kok Wah, President cum Group Chief Executive Officer
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Otto Marine Limited ("Otto Marine" or the "Company") is an offshore marine group engaged in
specialised shipbuilding of offshore vessels for primarily Deep Sea applications. The shipbuilding
includes ship repair and conversion. In addition, Otto Marine is chartering out its own fleet of
sophisticated and environmentally friendly (clean/comfort class) Anchor Handling Tugs and Offshore
Supply vessels for mainly Deep Sea applications. In continuation of its expansion strategy, Otto
Marine is the majority shareholder in the seismic operator, Reflect Geophysical.
Headquartered in Singapore, the Company owns and operates one of the largest shipyards in Batam,
Indonesia - one of the most sophisticated yards in Asia Pacific. The yard is building to DNV and
Norwegian class standards. Its customers are primarily deep sea and offshore operators and
equipment companies who provide logistics support and offshore services to companies operating
globally in the oil and gas industry.
Otto Marine’s specialised approach has allowed it to build up its expertise in constructing high
specification deep sea and offshore support vessels, improve its production quality and efficiency and
develop a competitive cost structure. This quality and level of sophistication has enabled the
Company - as one of the few in Asia - to gain recognition in the construction of complex and
sophisticated deep sea and offshore vessels.
Otto Marine was successfully listed on the Main Board of Singapore Exchange Securities Trading
Limited (the “SGX-ST”) on 28 November 2008. For more information, please visit the Company’s
website at http://www.ottomarine.com
Issued for and on behalf of Otto Marine Limited
For more information please contact:
Financial PR Pte Ltd
Otto Marine Limited
Romil SINGH / Kathy ZHANG
Michael SEE
Email: romil@financialpr.com.sg
Email: michaelsee@ottomarine.com
Tel: (65) 6438 2990 Tel: (65) 6863 2366
Fax: (65) 6438 0064
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