Otto Marine secured a time-charter contract for an offshore support vessel for deployment in the west coast of Africa over a firm 500 days with an option to extend for two months, Seatrade Asia online reports.
The contract involving its maintenance and construction/accommodation support vessel Seasafe Supporter is expected to generate about $10m for the minimum scheduled period of the charter, according to Otto Marine.
The charterer, a Dutch operator, will deploy the vessel to support offshore works in Gabon, west coast of Africa.
“Africa is one of our key target markets and we certainly have made inroads and our presence felt as we have around eight offshore vessels deployed there,” said Aw Chin Leng, executive director and deputy president of Otto Marine.
Meanwhile, Singapore-listed Otto Marine reported a second quarter net loss of $33.6m compared to a net loss of $32.4m in the same period of 2011. Revenue improved 143.8% year-on-year to $83.9m.
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