Otto Marine Brings in Subsea Adviser
Otto Marine Limited, an offshore marine company which owns and operates a fleet of offshore support vessels, shipyard and offers specialized offshore services, announced that the group has appointed UOB Kay Hian Holdings Limited to advise the group on strategic options, aimed to develop the international profile and competitive position of its subsea services unit in the increasingly growing segment. Such options include but are not limited to a potential listing on the on the Singapore Exchange Securities Trading Limited (SGX-ST). According to Otto Marine, the group remains committed to the business
Otto Marine Name Multi-Purpose OSV at Indonesia Shipyard
significant milestone for Otto Marine, and for the offshore support vessel industry in the Asia Pacific region. Through Norshore Atlantic and the recently delivered Go Phoenix, we have demonstrated that our yard is capable of constructing ultra-large, highly sophisticated vessels.: About Otto Marine Limited Otto Marine Limited is an offshore marine group which owns and operates a large fleet of offshore support vessels and is engaged in specialized shipbuilding of offshore vessels for primarily Deep Sea applications. Headquartered in Singapore, the Company owns/leases and operates 64 offshore
Otto Marine Sell ROV Support Ship
The company's subsidiary Otto Shipyard has sold ROV Support Vessel 'Otto Explorer 3' for US$50-million. The Board of Directors of Otto Marine Limited announce that the earlier proposed sale of the Multi-purpose Field Support and ROV Support Vessel, “Otto Explorer 3”, to RY Offshore Limited by the Company’s shipyard, through one of the Company’s wholly-owned subsidiaries has been comleted. Otto Marine state that the transaction is expected to have a positive impact on the consolidated net tangible assets per share or earnings per share of the Company for the
ROV Support Vessel Sold by Otto Marine
charter the vessel to the Ottto Marine Group subsidiary, Go Marine Group Pty Ltd. The company has received a deposit of US$1 million from the buyer for the transaction with the balance to be paid upon delivery of the vessel, which is being built at the Otto Marine shipyard in Batam, Indonesia. Otto Marine Limited is an offshore marine group, headquartered in Singapore, specialising in the subsea and deep sea segment. The Group has three distinct business divisions, shipbuilding of specialised offshore support vessels (OSV), ship chartering and specialised offshore services operation.
Troubled Otto Marine Geophysical Subsidiary
Singapore-based Otto Marine Limited informs of two applications by creditors to wind up its Reflect Geophysical Pte Ltd. At the hearing on the two applications to wind up Reflect filed by two of Reflect’s creditors with the Singapore High Court held on 22 February 2013, the court has ordered that the applications be adjourned to a date to be fixed after the conclusion of the judicial management application filed by Reflect on 21 February 2013, pursuant to section 227C(a) of the Companies Act (Chapter 50). At a separate hearing before the Registrar, the court ordered that the hearing
February 2024
