Singapore's Otto Marine has won charter contracts for its multi-purpose offshore supply vessel (MPSV) for a total of $21m.

The 3,200-dwt MPSV, Go Explorer, will initially be deployed to work in Vietnam follow by Australia working on a major offshore construction project based on the various contractual arrangements.

The offshore vessel is equipped with two remotely-operated vehicle hangars and a 25-tonne offshore crane.

“Australia has a very active oil and gas exploration market with many large scale projects ongoing,” said Garrick Stanley, ceo of Otto Marine.

“”Apart from extending our lead in Australia, the group is also looking to expand in other markets. We currently have two vessels deployed in Vietnam waters, and are actively trying to build our presence there,” he said.