Otto Marine : Secures Approximately US$404 Million Worth Of Charter Contracts In 1H2014

(Company Registration Number 197902647M)

(Incorporated with limited liability in the Republic of Singapore on 5 September 1979)

MEDIA RELEASE - FOR IMMEDIATE RELEASE

 Core offshore vessel chartering business remains robust with strong complementary shipyard

 With excellent relationships with leading global Oil & Gas companies, Group's order book stood at US$450 million as at 30 June 2014

 Booming Exploration & Production (E&P) activities, coupled with rising

Singapore, 14 July 2014 - Otto Marine Limited, ("Otto Marine" or the "Group"), a leading offshore marine company which owns and operates a large fleet of offshore support vessels, shipyard and offers specialized offshore services, is pleased to announce that the Group has secured charter contracts worth approximately US$404 million in the first half of 2014 ("1H2014").

With global offshore support vessels (OSVs) footprint across Africa, Asia, Australia, India, the U.S., the Gulf of Mexico and the North Sea, Otto Marine takes advantage of its strong complementary shipyard to achieve economies of scale, supporting its very own fleet renewal, expansion and upgrading program to ride on the increasing demand for OSVs.
Backed by strong long term relationships with leading Oil and Gas companies, Otto Marine enjoys a healthy order book that stood at approximately US$450 million as at 30 June 2014, with an average contract tenor of 3 to 5 years.
Ultimately, the booming E&P activities, along with the rising OSV demand will enhance the supply-demand dynamics, which is expected to drive up the charter rates. Moving forward, Otto Marine's primary focus will be placed upon capitalizing on its high growth in markets such as North Sea, Africa and Australasia as well as penetrating into cabotage-protected areas to increase its presence in high-potential regions in Malaysia and Indonesia via key
partnership with the GO Marine Group.

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About Otto Marine Limited (OTML.SP)

Otto Marine Limited ("Otto Marine" or the "Company") is an offshore marine group which owns and operates a large fleet of offshore support vessels and is engaged in specialized shipbuilding of offshore vessels for primarily Deep Sea applications. The shipbuilding includes ship repair and conversion.

Headquartered in Singapore, the Company owns/leases and operates 64 offshore vessels and one of the largest shipyards in Batam, Indonesia - one of the most sophisticated yards in Asia Pacific. The yard is building to ABS, DNV and Norwegian class standards. Its customers are primarily deep sea and offshore operators and equipment companies who provide logistics support and offshore services to companies operating globally in the oil and gas industry.

Otto Marine's specialized approach has allowed it to build up its expertise operating a large offshore fleet and through its shipyard constructing high specification deep sea and offshore support vessels. This quality and level of sophistication has enabled the Company - as one of the few in Asia - to gain recognition as a Marine Services company operating a large deepwater fleet of support vessels with its shipyard focusing on its fabrication, ship repair and building for local content requirements of its clients.

Otto Marine was successfully listed on the Main Board of Singapore Exchange Securities Trading Limited (the "SGX-ST") on 28 November 2008. For more information, please visit the Company's website at http://www.ottomarine.com

Issued for and on behalf of Otto Marine Limited

For more information please contact: Financial PR Pte Ltd

Romil SINGH / Michelle LIAN / Kathy ZHANG

Email: romil@financialpr.com.sg/ michelle@financialpr.com.sg/ staff@financialpr.com.sg

Tel: (65) 6438 2990

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