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Otto in consolidation

OFFSHORE MARINE group, Otto Marine grew its 1H10 revenues 64.5% year-on-year to reach S$406.3 million, thanks to growth in revenue recognized for building high margin vessels, chartering and its new geophysical businesses.

The strong revenue growth was partially offset by reduced utilization rates in the chartering of anchor handling tugs and barges.

“We are targeting equal revenue contribution from our 3 segments,” said CFO Michael See during an analyst briefing yesterday.

He was refering to firstly, shipbuilding, repair and conversion; secondly, chartering and thirdly, special offshore services.

Otto builds high-spec anchor handling tug supply vessels, owns a fleet of 31 offshore support vessels and has 4 special vessels for seismic data collection and subsea work.



Trend: sideway
MACD histogram showing decreasing volatility
CCI, MACD, Stochastic trend up.
Strategy: wait for a breakout either on the up or down side


OTTO in consolidation

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