Otto Marine Limited, an offshore marine company, has entered into two long-term charter contracts worth approximately $25.2 million.
The Singapore-based Otto Marine said that it would charter two 16,000bhp large Anchor Handling Tugs Supply vessels (AHTS) to a “large oil and gas company”.
The contract was signed through Otto Marine’s subsidiary, Go Offshore Pty Limited.
Go Offshore is a wholly-owned subsidiary of the Otto Marine’s owned subsidiary, Go Marine Group Pty Ltd.
“The transaction is expected to have a positive impact on the consolidated net tangible assets per share or earnings per share of the company for the financial year ending December 31, 2015,” the company has said in its press release, without revealing the name of the client or the vessels to be chartered.