Otto Marine’s Shipyard Sells MRSV to RY Offshore

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

Upon completion of the sale, the buyer will charter the vessel to the company’s subsidiary, Go Marine Group Pty Ltd.

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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Otto Marine, June 28, 2013