FEBRUARY 22, 2016 —Singapore headquartered Otto Marine is succeeding in diversifying the product mix at its Batam, Indonesia, shipyard.
It has secured contracts worth a total $23 million from two Indonesian customers covering the construction of one product tanker and three ferries, all scheduled for third quarter quarter 2017 delivery.
The 6,500 dwt, 109 m product tanker will be built to ABS class and will have a cargo oil tank capacity of 8,300 cu. meters. It is being built for a local Indonesian customer.
The 1,200 gt ferries are being built for an Indonesian state owned enterprise.
Calling the contracts "a stimulating start for 2016," Otto Marine Group CEO Michael See, Group CEO said, "As the weak oil prices continue to weigh on oil and gas, and offshore and marine sectors, we put relentless efforts in creating revenue streams across our business segments, including diversification of our business exposure by offering an extended vessel portfolio at the shipyard. "