Reuters: Hot Stocks: STOCKS NEWS ASEAN-Otto Marine up on contract win

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STOCKS NEWS ASEAN-Otto Marine up on contract win Mar 21st 2012, 01:32 Tue Mar 20, 2012 9:32pm EDT March 21 - Shares of Singapore's Otto Marine Ltd rose as much as 4.1 percent on Wednesday after the offshore marine firm said it won a North Sea ship chartering contract worth $36.5 million over five years. Otto Marine shares were up 2.7 percent at S$0.15 on volume of 6.3 million shares - 1.6 times the average full-day volume traded in the last 30 days. An option to extend the contract for two more years could raise the total value of the deal to around $52.4 million, Otto Marine said in a statement. The contract was awarded by SeaHold GEOSHIPS Ltd, a UK-based shipping company supporting offshore oil and gas and renewable energy projects.

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