Batamec secures 2 shipbuilding contracts

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JAKARTA (RAMBUENERGY.com) – Singapore-based Otto Marine Limited together with its subsidiaries, said that its wholly-owned subsidiary, PT Batamec, located in Batam in Riau Islands province, has secured 2 shipbuilding contracts worth approximately US$8.0 million for 3200 HP Harbour Tugs from an Indonesian stated-owned company.

The vessels, which will be operated in the waters of Indonesia, is expected to be delivered in fourth quarter 2017.

The contracts are expected to have positive contribution to the consolidated earnings per share or consolidated net tangible assets per share of the Group for the financial years ending 31 December 2016 and 31 December 2017 respectively, Otto Marine said.

Save for their shareholdings in the Company, none of the directors or controlling shareholders of the company has any interest, whether direct or indirect, on the above Contracts. (*)