Otto Marine: has chartered 2 Anchor Handling Tugs (AHT) units, that were completed at its Batam yard. One will be employed initially on an int’l towage work before being mobilized to Australia to support various civil and offshore construction works. The other is being mobilized and expected to depart before end of the yr to deliver a barge to Bass Strait before being deployed to New Zealand to support towage operations.
Both vessels are operated by Otto’s 55% owned subsidiary, Go Marine.
This news follows Otto’s Monday announcement of a sale of another AHT to its 50/50 JV Otto Limin Marine. The vessel will be deployed very soon in India.
The stock trades at 5.8x P/E, 0.6x P/B.
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