Otto Marine bags charterning contract worth $7.5M

Go Offshore International Pte Ltd (“Go International”), a wholly-owned subsidiary of Otto Marine Limited (the “Company” together with its subsidiaries, the “Group”), has secured a chartering contract worth up to USD7.5 million (“Contract”), the Group said in its press release.  
 
The vessel under charter is a liftboat equipped with heavy lift crane used for offshore wind farm installation with the ability to transport and store wind farm structures and consumables (“Vessel”). The Vessel will be used in an offshore wind farm installation and development project in the South East Asian region. Under the Contract, Go International will be managing, manning and operating the Vessel.  
 
The Contract is expected to have positive contribution to the consolidated earnings per share or consolidated net tangible assets per share of the Group for the financial year ending 31 December 2016.  
 
Save for their shareholdings in the Company, none of the directors or controlling shareholders of the Company has any interest, whether direct or indirect, on the above Contract.