Otto Marine Sells One Field Support Vessel

The Board of Directors of Otto Marine Limited today announced that its shipyard has, through one of the Company’s wholly-owned subsidiaries, sold a Multi-purpose Field Support and ROV Support Vessel to RY Offshore Limited for an aggregate consideration of approximately US$50 million.

The Vessel design MT6009L is from a renowned Norwegian Design house Marin Teknikk and is DNV Classed. The DP2 hybrid diesel electric driven vessel is built at the Company’s shipyard in Batam, Indonesia. The vessel will be handed over to the Buyer following the completion of legal documentation and a final inspection.

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Press Release, June 28, 2013; Image: marinteknikk