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Otto Marine bags US$25.2m charter contracts

OTTO Marine has scored two long-term charter contracts worth US$25.2 million, the shipbuilder and vessel owner announced early Thursday.

The contracts, with a "large oil and gas company", are for two 16,000 brake horsepower large anchor handling tugs supply (AHTS) vessels, Otto Marine said.

The order is expected to positively impact per-share net tangible assets and earnings for the current financial year, which ends in December.

Otto Marine shares last traded at 28 Singapore cents on Wednesday.