Otto Marine Limited announce the confirmation of time charter contract for Platform Supply Vessel ('PSV') - Sea Frost, for approximately US$8.0 million.

Under the contract, which has recently commenced, Sea Frost has been contracted to support the Atwood Eagle rig located in Australia for a period of 152 days. The client, a renowned oil and gas exploration and production company, has the option of extending the contract for an additional two terms based on the same terms and conditions.

Completed in 2013, Sea Frost is the latest addition to the Group's fleet, held under subsidiary Go Marine Group Pty Ltd. Measuring 88.8 meters in length, Sea Frost is an 8,600 bhp PSV with 1,025 square meters of deck space. It is DNV classed and equipped with dynamic positioning 2 (DP2) technology.

Tags: Otto Marine Limited