The work maintenance vessel Nautical Aliya is expected to lift Otto Marine's FY2015 results.
Photo: Company
OTTO MARINE has taken delivery of the Nautical Aliya, a 238-men work maintenance vessel to be deployed on a long-term bareboat charter contract secured in June.
Nautical Aliya is the first completed unit of the Group’s DPS-2 work maintenance vessel series. The vessel measures 85 meters in length and 23 meters in width. It has a clear deck area of 635 square meters, and is equipped with a deck crane of 80-ton lifting capacity. A second unit is currently under construction and will be completed by the end of this year.
Group CEO Michael See. NextInsight file photo
Built by a PRC shipyard, it was delivered last Thursday on schedule for deployment in the South East Asia region under a 5-year bareboat charter contract secured by wholly-owned subsidiary Swordfish 1 Pte Ltd.
“We want to maintain an optimal fleet size as vessels owned by the Group generate better profit margins,” said Group CEO Michael See.
“In 2Q2015, we added US$132.2 million of new chartering contracts to our order book, bring its total value to US$307.2 million as at 30 June 2015. Fleet utilization rate has increased from 59.2% for 1Q2015 to 74.0% for 2Q2015. The new vessel is expected to contribute positively to the Group’s financial performance in 2015,” he said.
