It gives the company potential to boost fleet utilization.
Otto Marine’s subsidiary Go Offshore has sealed the deal with a port operator to become the latter’s preferred provider for its worldwide projects.
According to Otto Marine’s media release, the agreement stipulates that the port operator to issue a formal request for quote from Go Offshore as preferred service provider whenever the port operator requires marine or offshore vessel services. Go Offshore is allowed the right, but not the obligation, of first refusal to offer and provide the services using one or several of its owned, managed, or operated vessels.
The deal gives Otto Marine the potential to boost the company’s revenue and fleet utilization, said. The partnership is also in line with the Otto Marine’s strategy to widen its business network and optimize its revenue stream amid the challenging market, said Otto Marine CEO Michael See.
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