Otto Marine bags $77.0m orders for AHTS vessels from Go Marine.
New vessels are ordered by Go Marine Group Pty Ltd., which has just acquired an 8,000bhp AHTS vessel for US$24.0 million. 12,000bhp AHTS vessels are expected to be delivered in 3Q 2012 and 1Q 2013 respectively, Otto Marine said Friday.
The 8,000bhp AHTS vessel will be delivered today in a naming ceremony held at Keppel Bay Marina.
Otto Marine Limited, a leading offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services, is pleased to announce that it has secured newbuild orders for two units of 12,000bhp AHTS worth US$38.5 million each from Go Marine Group Pty Ltd. (Otto Marine holds 19.0% equity interest in Go Marine), Otto Marine press release said.
These two units are expected to be delivered in 3Q 2012 and 1Q 2013 respectively. The 12,000bhp AHTS vessels, 78.2m x 18.5m, are well-equipped with the latest technology and equipment, and its powerful engines are capable of delivering 150T bollard pull. Go Marine has also procured one 8,000bhp AHTS vessel identified as “GO Rigel” from Otto Marine for a consideration of US$24.0 million, as announced by the Group on September 8, 2011. It is a dynamically positioned class 2 AHTS well-equipped with Niigata engine that is capable of delivering 120T bollard pull. The vessel will be handed over today during the naming ceremony held at Keppel Plaza Berth at Keppel Bay Marina, after which it will be deployed to the Bass Strait in Australia for a contract supporting the Origin Yolla Field Development. Mr Lee Kok Wah, President cum Group Chief Executive Officer says: “These two new orders are placed almost immediately by Go Marine after their first purchase of the 8,000bhp AHTS. These orders placed demonstrate the positive synergies we can harness from association with GO Marine. Go Marine operates over 20 offshore support vessels currently. This 8,000bhp vessel will be the first vessel that Go Marine has acquired from Otto. I believe we are well-positioned to benefit from the robust growth opportunities available in the growing oil & gas market in Australia.”
Singapore-headquartered Otto Marine Limited is an offshore marine group engaged in specialized shipbuilding of offshore vessels for primarily deeper water applications. The shipbuilding yard also does ship repair and conversion. In addition, Otto Marine charters out its own fleet of sophisticated Anchor Handling Tugs and Offshore Support vessels for mainly deeper water applications. In continuation of its expansion strategy, Otto Marine is the majority shareholder in the seismic operator, Reflect Geophysical.
Go Marine is an Australian-incorporated company in the business of providing offshore and inshore marine services to the oil and gas industry. Its core competencies include: (a) ship management; (b) marine / construction crewing; (c) marine consultancy; (d) rig moving; and (e) the supply of anchor handlers, barges, PSV’s and tugs to the oil and gas industry.
The 8,000bhp AHTS vessel will be delivered today in a naming ceremony held at Keppel Bay Marina.
Otto Marine Limited, a leading offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services, is pleased to announce that it has secured newbuild orders for two units of 12,000bhp AHTS worth US$38.5 million each from Go Marine Group Pty Ltd. (Otto Marine holds 19.0% equity interest in Go Marine), Otto Marine press release said.
These two units are expected to be delivered in 3Q 2012 and 1Q 2013 respectively. The 12,000bhp AHTS vessels, 78.2m x 18.5m, are well-equipped with the latest technology and equipment, and its powerful engines are capable of delivering 150T bollard pull. Go Marine has also procured one 8,000bhp AHTS vessel identified as “GO Rigel” from Otto Marine for a consideration of US$24.0 million, as announced by the Group on September 8, 2011. It is a dynamically positioned class 2 AHTS well-equipped with Niigata engine that is capable of delivering 120T bollard pull. The vessel will be handed over today during the naming ceremony held at Keppel Plaza Berth at Keppel Bay Marina, after which it will be deployed to the Bass Strait in Australia for a contract supporting the Origin Yolla Field Development. Mr Lee Kok Wah, President cum Group Chief Executive Officer says: “These two new orders are placed almost immediately by Go Marine after their first purchase of the 8,000bhp AHTS. These orders placed demonstrate the positive synergies we can harness from association with GO Marine. Go Marine operates over 20 offshore support vessels currently. This 8,000bhp vessel will be the first vessel that Go Marine has acquired from Otto. I believe we are well-positioned to benefit from the robust growth opportunities available in the growing oil & gas market in Australia.”
Singapore-headquartered Otto Marine Limited is an offshore marine group engaged in specialized shipbuilding of offshore vessels for primarily deeper water applications. The shipbuilding yard also does ship repair and conversion. In addition, Otto Marine charters out its own fleet of sophisticated Anchor Handling Tugs and Offshore Support vessels for mainly deeper water applications. In continuation of its expansion strategy, Otto Marine is the majority shareholder in the seismic operator, Reflect Geophysical.
Go Marine is an Australian-incorporated company in the business of providing offshore and inshore marine services to the oil and gas industry. Its core competencies include: (a) ship management; (b) marine / construction crewing; (c) marine consultancy; (d) rig moving; and (e) the supply of anchor handlers, barges, PSV’s and tugs to the oil and gas industry.