Singapore: The tide would appear to have turned at offshore fabricator Otto Marine. PT Batamec, its Indonesia-based shipyard, has secured contracts to fabricate, assemble and deliver four pre-erected columns and pontoon blocks worth a total of S$6.3m.
Secured from an unspecified Singapore-based customer, these contracts are “a significant milestone in Otto Marine’s bid to expand and to strengthen its shipyard operations and presence in the robust offshore oil and gas industry in the region,” Otto Marine said in a release to the Singapore Stock Exchange.
“Since the beginning of 2013, the group has made further progress in building our orderbook, and these contracts serve as an encouragement for us to push harder, to do more. Slowly but surely, Otto Marine is reviving its shipyard operations to reflect the healthy state of the region’s offshore oil and gas industry,” said Michael See, executive director and group cfo. [22/03/13]
