Otto Marine

Otto Marine: announced two positive developmentsthis week: - exploring strategic options to develop its subsea operations business, which include a potential listing on the SGX, and - secured A$57m contracts for two of its 16,300 BHP AHTS. The first news will help Otto to secure new funding to grow the subsea business and helps to rerate the company’s valuation. The second news reflects the buoyant chartering market and provides greater visibility to chartering forecast. Voyage reiterates its Invest rating with TP $0.116