Otto Marine clinches AUD57 million worth of charter contracts in Australia for two of its large Deep Water AHTS vessels - 26-08-2014

Otto Marine Limited, ("Otto Marine" or the "Group"), a leading offshore marine company which owns and operates a large fleet of offshore support vessels, shipyard and offers specialized offshore services, is pleased to announce that the Group has secured time charter contracts with two Oil Majors for its Deep Water Anchor Handlers, GO Sirius and GO Spica, worth AUD57 million.

Employed in drilling and pre-lay support, the 16,300 BHP DP2 AHTS vessel GO Spica with the 210 tonnes Bollard Pull, will be mobilized to Australia for a long term charter off the North West coast of Australia in August 2014. This vessel will be operated by the Group's whollyowned subsidiary, GO Marine Group ("GO Marine").

In addition to the GO Spica, another of the Group's 16,300 BHP Vessel, GO Sirius, has secured term work out of Darwin in support of another Oil major. The GO Sirius has been working in Australia for the past two years and has obtained a very good track record with multiple clients in achieving almost seamless back to back contracts in supporting drilling and construction projects.