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Hot stock: Otto Marine gains on delivery of vessels

SHARES of Otto Marine rose on Wednesday in early morning trade, after it said it has delivered four new-build vessels that translated into a total contract value of US$36.6 million.

Its shipyard, PT Batamec, completed the construction of two units of harbour tugs and two units of anchor handling tug supply for PT Pertamina Trans Kontinental.

The stock gained 0.3 Singapore cent, or 6.8 per cent, to S$0.047. Over four million shares changed hands.