SINGAPORE - Mainboard-listed Otto Marine said on Wednesday that it has delivered four new-build vessels for a total contract value of US$36.6 million (S$49.83 million).

Its shipyard, PT Batamec, completed the construction of two units of harbour tugs and two units of anchor handling tug supply for PT Pertamina Trans Kontinental (PTK).

Said Mr Michael See, group CEO: "We look forward to fostering closer business ties with PTK and look forward to more business opportunities."

"We expect the shipyard to make sustained contribution to the long-term growth of our Group, as it continues to provide fabrication, repairs and conversion services to our customers and to our own fleet, and build vessels for selective shipbuilding orders."