Otto Marine bags A$57m contracts

MAINBOARD-listed Otto Marine has secured A$57 million (S$66.3 million) worth of contracts with oil majors.

Otto revealed that the time charter contracts with the two oil global oil companies are for its deep-water anchor handlers Go Sirius and Go Spica.

Employed in drilling and pre-lay support, Go Spica will be mobilised to Australia for a long-term charter off its north-west coast this month, and will be operated by the group's wholly owned Australian subsidiary Go Marine.