Offshore success for Singapore shipbuilder

The customer, Go Marine, in which Otto Marine holds a 19% equity, recently took delivery of an 8,000bhp AHTS, Go Rigel, from Otto. The ship, powered by a Niigata engine, is valued at $24 million, is equipped with a DP system and is capable of delivering 120t bollard pull. It will be deployed in the Bass Strait in Australia for a contract supporting the Origin Yolla field development.

At the naming ceremony, held at Keppel Bay Marina in Singapore, Otto announced newbuild orders for two 12,000bhp AHTS vessels, worth US$38.5 million each, from Go Marine Group. These two units are expected to be delivered in 3Q2012 and 1Q2013 respectively. They will each be 78.2m long and 18.5m wide, with 150t bollard pull.

“These two new orders are placed almost immediately by Go Marine after their first purchase of the 8,000bhp AHTS. These orders placed demonstrate the positive synergies we can harness from association with Go Marine. Go Marine operates over 20 offshore support vessels currently. This 8,000bhp vessel will be the first vessel that Go Marine has acquired from Otto. I believe we are well-positioned to benefit from the robust growth opportunities available in the growing oil & gas market in Australia,” said Lee Kok Wah, president and CEO.