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SHIPPING & MARINE | Staff Reporter, Singapore

Otto Marine inks $32.3m in shipbuilding contracts

The deals are for an oil tanker and two ferries.

The marine and offshore firm continued its effort to diversify and expand its product as it weathers a weak market as it secures three shipbuilding contracts worth USD23m.

According to a press release by Otto Marine, the contracts include on 6,500 long tons deadweight product oil tanker, which will be ABS-class, measuring 109 meters in length, with cargo oil tank capacity of 8,300 cubic meters.

Meanwhile, the other two contracts were for two 1,200 GT ferries from Indonesian firms, the orders of which were placed by an Indonesian state-owned enterprise, Otto Marine said.

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