Otto Marine Limited on Wednesday said it has signed a time charter contract that carries an initial value of US$20.8 million over three years.
The contract has an option to extend for a further 1 + 1 year, bringing the potential value of the contract up to US$35 million.
The 7,200 bhp AHTS with DP class 2 capabilities \'Beluga 1\' vessel will be operated by Global Workboats Private Limited.
It will be deployed off the coast of Nigeria, and be part of a growing fleet of vessels servicing the West African offshore market.
The contract is expected to have marginal contribution to the company\'s FY2012 earnings.
The contract has an option to extend for a further 1 + 1 year, bringing the potential value of the contract up to US$35 million.
The 7,200 bhp AHTS with DP class 2 capabilities \'Beluga 1\' vessel will be operated by Global Workboats Private Limited.
It will be deployed off the coast of Nigeria, and be part of a growing fleet of vessels servicing the West African offshore market.
The contract is expected to have marginal contribution to the company\'s FY2012 earnings.