Otto Marine Limited has announced that its wholly - owned subsidiary, PT Batamec (“Batamec”) has secured a shipbuilding contract worth USD14 million for 6500 - DWT product tanker from an Indonesian stated - owned enterprise.
The tanker, which will be operated in the waters of Indonesia, is expected to be delivered in 2Q2018. The contract is expected to have positive contribution to the consolidated earnings per share or consolidated net tangible assets per share of Otto Marine for the financial years ending 31 December 2017 and 31 December 2018 respectively.