Otto Shipyard clinch 2 newbuild vessels contracts worth approximately USD9 million

The Board of Directors of Otto Marine Limited announces, that its subsidiary, PT Batamec shipyard has clinched two newbuilding contracts from its repeated reputable Indonesian customer to build two 3000 HP Habour Tugs for a consideration of approximately USD 9 million. The vessels are expected to be completed by fourth quarter of 2014, the company said in its press release.