Singapore: Offshore service provider Otto Marine Limited, has confirmed a time charter contract for its newest PSV vessel, Sea Frost.
The charter contract commenced recently, for a period of 152 days, and is valued at around $8m with options for two extra terms. Sea Frost is supporting the Atwood Eagle rig in Australia for a renowned oil and gas exploration and production company.
Garrick Stanley, Otto Marine’s ceo, said: “Ship operating and chartering has been a very important aspect of Otto Marine’s business and will continue to be our main focus going forward. Sea Frost is a part of our efforts to grow and expand our fleet to comprise of a diverse and comprehensive range of vessels with different tonnages. Improving the fleet profile and maintaining a young fleet will be a continual process in the execution of our strategy to be one of Asia Pacific’s leading offshore support vessel charterer.” [07/02/14]