Otto Marine Limited on Monday said it has secured a time charter contract from a prominent Mexican offshore platform construction company for an initial value of US$14.9 million, for a period of 450 days.
The contract comes with an option to extend for another 12 months, bringing the potential value of the contract to US$20 million.
Oranda 1, the 4,200bhp work maintenance vessel, marks the group\'s entry in Mexican waters. It will be operated by Otto Marine\'s wholly-owned subsidiary, Global Workboats Private Limited.
The contract is expected to contribute positively to the group\'s FY2012 earnings.
The contract comes with an option to extend for another 12 months, bringing the potential value of the contract to US$20 million.
Oranda 1, the 4,200bhp work maintenance vessel, marks the group\'s entry in Mexican waters. It will be operated by Otto Marine\'s wholly-owned subsidiary, Global Workboats Private Limited.
The contract is expected to contribute positively to the group\'s FY2012 earnings.