SINGAPORE - Offshore marine group Otto Marine has issued a profit warning for its first quarter ending March 31.

The Singapore-listed group said on Saturday it expects to post a loss for the first three months of the year.

This is mainly due to several of its vessels being docked for survey, as required periodically by regulations, and thus unavailable for use, it said.

Other vessels were re-positioned and mobilised, which was another contributing factor to the loss, it added.