Otto Marine Builds 4 Vessels for PTK

Otto Marine Limited, an offshore marine group which owns and operates a large fleet of offshore support vessels with a worldwide presence, complemented by a technically proven shipyard, announced today that its shipyard, PT Batamec, has completed the construction of two units of harbor tug and two units of anchor handling tug supply (AHTS) for PT Pertamina Trans Kontinental (PTK). A delivery ceremony was held for the four vessels on March 27, 2015 at the Group’s shipyard in Batam, Indonesia.

The deliveries consisted of two units of 3,000 bhp harbor tugs, Patra Tunda 3151 and Patra Tunda 3152, and two units of 5150 bhp AHTS, Transko Balihe and Transko Moloko, for a total contract value of $36.6 million.

Commenting on the vessel deliveries, Michael See, Group Chief Executive Officer, said, “While the group strives to strengthen our position as a leading OSV operator, our shipyard remains an integral part of the business portfolio. The shipyard continued to tap on the cabotage market in Indonesia, and take selective shipbuilding orders to enhance our revenue base. The successful construction and delivery of the four vessels once again demonstrated Otto Marine’s expertise in building quality vessels, as well as our reputation among customers. We look forward to fostering closer business ties with PTK and look forward to more business opportunities. We expect the shipyard to make sustained contribution to the long-term growth of our group, as it continues to provide fabrication, repairs and conversion services to our customers and to our own fleet, and build vessels for selective shipbuilding orders.”