Otto Marine signs MoU for new cement carriers project, Indonesia

Singapore-based Otto Marine has signed a memorandum of understanding (Mo) for the building of five new cement carriers with sizes ranging from 7500-15,000dwt for an Indonesian customer.

Apart from the cement carriers order, there is also potential for Otto Marine to secure contracts for the conversion of two additional bulk carriers into cement carriers, and a further order for a 3,500 bhp ocean towing tug from the same Indonesian customer. Conversion works will be carried out in Otto Marine's shipyard in Batam, Indonesia.

“Apart from our mainstay focus on the offshore and marine sector, concentrating on these services allows us to benefit from the growth in other sectors such as the cement industry,” said Garrick Stanley, CEO of Otto Marine.