Otto Marine secures 5 year North Sea ship chartering contract worth US$ 36.5 million

Otto Marine Limited, a leading offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services, announces that it has secured a bareboat charter contract from SeaHold GEOSHIPS LIMITED (A UK based. ISO 9001 certified Marine and Subsea services shipping company supporting offshore oil and gas and renewable energy projects) for an initial value of US$ 36.5 million over 5 years, with an option to extend the current contract for 2 more years, bringing the potential value of the contract to approximately US$ 52.4 million.