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    Otto Marine enters new markets in Middle East, West and South Africa

    News // July 21, 2011

    Otto Marine Limited has announced that one of its operating units, Karp Marine Limited, has secured vessel operating contracts worth US$15 million for three of the group’s offshore service vessels.

    The contracts also mark the entry of the group in new markets including the Middle East, West and South Africa with respect to operating vessels in these regions.

    The contracts are for time charter for three of Otto Marine’s offshore service vessels. One
    vessel, Oranda 1, is a 75m, 4,200 bhp maintenance vessel and will be deployed with Leighton Engineering in the Leighton Iraq Project.

    The contract forms part of the Iraq Crude Oil Export Expansion Project (ICOEEP) which is
    developing offshore loading facilities to enable export capability of 4.5 million barrels of oil per day).

    Another of Otto Marine’s vessels to be deployed is Seasafe Salvo, a 61m, 4,000 bhp maintenance vessel and will be deployed in Cameroon with Perenco Rio Del Rey.

    The third vessel for which the vessel operating contract has been secured is Seasafe
    which is an identical vessel to Seasafe Salvo. This vessel will be deployed
    in South Africa with De Beers Marine (Pty) Limited.


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