Otto Marine strengthens its position

Otto Marine Limited, Singapore, an offshore marine company which specializes in building complex offshore support vessels, ship chartering and offshore services, announced that its wholly-owned subsidiary, Otto Ventures Pte Ltd, has signed a deal with Go Marine Group Pty Ltd that gives Otto Ventures the options to acquire 100% of Go Marine in three tranches through a Convertible Loan Agreement and an Option Agreement.

Go Marine Group is an Australian-incorporated company in the business of providing superior offshore and inshore marine services to the oil and gas industry. Go currently operates and manages a large and diversified fleet. Core competencies of Go Marine include ship management, marine crewing, project specific construction manning, new build technical management and regional logistics and support services etc. G operates in various regions of the world outside of Australia that include India, UAE,
Russia, Indonesia and New Zealand.