Otto Completes Sale of ROV Support Vessel ‘Otto Explorer’

Singapore’s Otto Marine Limited today announced it has sold an ROV Support Vessel to RY Offshore.

The Multi-purpose Field Support and ROV Support Vessel, “Otto Explorer 3”, Otto Explorer 3 Limited, was sold for an aggregate consideration of approximately US$50 million.

Ry Offshore will now charter the vessel to the Company’s subsidiary, Go Marine Group Pty Ltd.

The 79.67 meters long vessel was built at the company’s shipyard in Batam, Indonesia.