Otto scores $27m charter deal

Otto scores $27m charter deal

Singapore: Offshore builder and operator Otto Marine has announced that subsidiary, Swordfish 1, has entered into a bareboat contract for a work maintenance vessel.

The charter, valued at $27m, is to an unnamed Southeast Asian offshore vessel operator with the vessel to be delivered in the 3rd quarter of 2015.

Michael See, Otto Marine’s CEO said: “We are pleased to see the order book being further enhanced with the new charter contract.”

Earlier this month the company had slashed its staff numbers by 30%, while the majority of the remaining staff have accepted a pay cut of an average of 15%.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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