Otto Marine, Limin Marine set up new joint venture

Offshore firm Otto Marine has entered into a joint venture with Limin Marine in the business of shipowning, managing and operating, shipbroking, shipbuilding and repair and shipping agency, Seatrade Asia online reports.The new $600,000 set up will be named Otto Limin Marine based in Singapore. Otto Marine and Limin Marine will each hold 50% equity capital in the joint venture.
“The joint venture company will carry on business in the ownership and operation of vessels,” Otto Marine said in a statement.