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Otto Marine wins US$26m contract

OTTO Marine, an offshore chartering group, on Monday said it has secured a long-term bareboat charter contract worth US$26 million.

The charter was for a 238-men work maintenance vessel.

The vessel is currently being built at a third-party yard, and is expected to be delivered by the end of 2015. The vessel will be deployed in the Asia-Pacific region once the charter starts.