SINGAPORE (Yosefardi) – Otto Marine Limited, a leading offshore marine company that specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services, said its wholly-owned subsidiary, Otto Marine Shipyard Pte Ltd, has entered into a Memorandum Of Understanding (MOU) with a world-renowned Port Operator to explore the potential development of a Fabrication and Marine Facility.

The Proposed Development is strategically located in close proximity to Singapore and to the South
East Asia region oil and gas fields. Otto Shipyard currently operates a 65 hectare shipyard through its sister company PT. Batamec.

The Proposed Development will use a fraction of the yard space and is not expected to cause any disruption on PT. Batamec’s existing shipyard facilities. The Proposed Development is expected to be fully operational by July 2017.

PT. Batamec’s shipyard is situated in the north-west of Batam Island Indonesia and its principal activities include shipbuilding, ship repair and conversion, steel fabrication and offshore oil and gas fabrication.