Thursday, July 21, 2011
OttoMarine
OttoMarine: Entered into vessel operating contracts for 3 vessels worth total US$15m. The vessels will be deployed in Cameroon, South Africa and Iraq. Co now trades at current P/E of 5.13x and has adopted shift of strategy to grow chartering and leasing businesss after being negatively impacted by poor shipbuilding revenues.
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