Otto Marine on Monday said it has secured a ship chartering contract with a minimum value of US$7.6 million, with an option for extension which can potentially generate up to US$57.3 million.
The contract is for a firm 180 days with option to extend for 3 x 1 month + 3 x 1 year for its newly built 75 metres work maintenance vessel.
The vessel to be delivered in early June will be deployed for general maintenance works in Kuwait, UAE and offshore Iraqi waters.
The contract is expected to have a positive contribution to the group\'s FY2012 earnings.
The contract is for a firm 180 days with option to extend for 3 x 1 month + 3 x 1 year for its newly built 75 metres work maintenance vessel.
The vessel to be delivered in early June will be deployed for general maintenance works in Kuwait, UAE and offshore Iraqi waters.
The contract is expected to have a positive contribution to the group\'s FY2012 earnings.