Otto Marine wins newbuild contracts from Indonesia

Singapore-listed Otto Marine has announced that its offshore shipyard has branched out to secure three new shipbuilding contracts worth $23m in total.

The contracts are made up of one 6,500 TLDW product oil tanker and two 1,200 GT ferries. The product tanker was ordered by a local Indonesian firm and the ferries were placed by an Indonesian state-owned company.

The vessels are scheduled for delivery in the fourth quarter of 2017.

“As the weak oil prices continue to weigh on oil and gas, and offshore and marine sectors, we put relentless efforts in creating revenue streams across our business segments, including diversification of our business exposure by offering extended vessel portfolio at the shipyard,” said Michale See, CEO of Otto Marine.


Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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