Otto Marine char­ters 2 PSVs in mul­ti­mil­lion deal with global oil ma­jor

OffComm News - - NEWS -

In a three- year deal, two PSVs ( plat­form sup­ply ves­sel) have been char­tered by a global oil ma­jor in Australia. This deal brings Otto Marine’s net or­der book to ap­prox. US$ 64mil­lion ( AUD80mil­lion).

Michael See, group ex­ec­u­tive direc­tor at Otto Marine said: “With the over 50% plunge in oil prices, in­vestors were cau­tious with the in­dus­try as a whole. While oil com­pa­nies are cut­ting back on their cap­i­tal ex­pen­di­ture bud­get, cer­tain op­er­a­tional ac­tiv­i­ties are still ac­tive as usual, hence there is still de­mand for sup­port­ing ves­sels from trusted busi­ness part­ners.”

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