Singapore's Otto Marine Orders Bunker Saving PSVs

by Ship & Bunker News Team
Monday August 25, 2014

Singapore-based offshore marine group Otto Marine Limited (Otto Marine) has ordered four fuel efficient platform supply vessels (PSVs), Norwegian ship designer Ulstein Design & Solutions (Ulstein) announced today.

Ulstein said it has entered into an agreement with Chinese yard Wuchang Shipbuilding Industry Company Limited (Wuchang) and it will deliver the design, engineering, and main equipment based on its PX121 platform.

Featuring the company's X-BOW inverted bow hull design, a feature which Ulstein says increases power efficiency and reduces fuel consumption, the vessels are certified by DNV and carry the ‘Clean Design’ notation.

"The PX121 vessels boast a performance you would normally expect from a larger PSV. Being able to do this at a medium-sized PSV cost, with reduced emissions and fuel consumption, the ship owner gets a favourable combination of two market areas," said Ulstein managing director Sigurd Viseth.

Delivery for all four PSVs is scheduled for 2016, and the deal comes with an option for a further four vessels.

Ulstein says the order takes brings the total number of PX121 design vessels to 30.

In June Wuchang said it had reached an agreement with Anhui Huaqiang Natural Gas (Anhui) to build three liquified natural gas (LNG) bunker barges for the Chinese market.

Ship & Bunker News Team
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