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Otto Marine Secures Charter Contract Worth USD 27million

Source: www.gulfoilandgas.com 6/11/2015, Location: Asia

Otto Marine Limited is pleased to announce that its wholly-owned subsidiary, Swordfish 1 Pte Ltd (“Swordfish”) had entered into along term bareboat charter contract worth USD27 million to charter one unit of 238-men Work Maintenance Vessel (the Vessel) to an offshore vessels operator in the South East Asia region.

The Vessel is expected to be delivered for Charterin3Q 2015. The Charter is expected to have a positive contribution to the consolidated earnings per share or consolidated net tangible assets per share of the Company and the Group for the current financial year ending 31 December 2015. Save for their shareholdings in the Company, none of the directors or controlling shareholders of the Company has any interest, whether direct or indirect, on the above transaction.

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